|
South Central Iowa | You know we speak in averages. That means some are more, some are less. When the mean is determined for the average producer in America, Brazil, or Argentina, who is the lowest depends on the year. It's reflected in why sometimes we have an advantage at port and sometimes they do. Currency plays a big role and yield does too as you mentioned.
There isn't going to be big expansion at low prices. This isn't 1992 and no one knows what unimproved Brazilian land is worth; there is no "average" CoP advantage for them in a given year.
| |
|
Markets are giving some an education in history
