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S Illinois | How do on-farm/off-farm stocks affect the market sentiment? In corn it was alway looked upon as bearish when stocks where in farmers hands. Is this same situation not bearish spring wheat? Taking into account Minn, ND, 35% of Mont, 40% of SD (Each of the last 2 are estimates based solely on spring wheat production % of total production), the Dec 1 grain stocks report had those 4 states with 70% of the spring wheat stocks still on farm. Corn was around 61% on farm in Dec and will likely be down around 50-55% come Mar. If we had 70% of the corn still on farm on those reports, that is all we would hear about.
As a side note, almost 55% of the US wheat in farmers hands as of Dec 1 is spring wheat. Would seem like the spring wheat growers need a lesson in bin usage, carryover, and depressing the markets. | |
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Throwin' Bones! Soy and Corn
