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December corn price on November 20th
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Posted 9/1/2014 06:15 (#4049701 - in reply to #4049191)
Subject: RE: Good point.



Death comes to us all. Life's but a walking shadow
In my preliminary national analysis (not shown) I included the 2013 (not the 2012) corn & beans carryout, as well as many minor crops, barley, edible beans, sunflowers etc. which suggests that nationally there is plenty of room. I didn't do that for the individual state analysis. Maybe we can assume that most of the carryout that remains in Oct. will be in the upper Midwest and not in Ill. & Ind.
The point of my little exercise was to show that production and storage capacity were not completely out of balance. There is still the problem of location. A bin even a hundred miles away doesn't do you much good especially at the current prices. There isn't much incentive to move cheap grain that's already losing money. Better to just let it rot.
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