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| "If" there were 1.1 bbu of corn and 130 mbu of soybeans on hand in the US on 9/1/14, the vast majority of them were trapped in the far NW part of the belt. As far as a producer or end user South and East of the Iowa/Minnesota border were concerned, those bushels didn't exist. As to Jon's work, if some of the Midwestern harvest stretches past Thanksgiving, I don't see most areas having a terrible basis collapse. The bins are empty and we will have used/shipped close to 4 bbu of corn and 1.3 bbu of soybeans by the time Tom gets eaten. Will suck for you guys in MN/SD/ND but the rest of us can find a spot for the crop. | |
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Corn only 4% harvested. Probably less than a byn bushels in store.
