MN | Bengal Stripes - 9/16/2014 07:07
According to the data you would have a tough time convincing me $8 corn "cut demand". $8 corn rationed available supplies and a soon as supplies became available demand came right back to it's normal annual increase rates. Semantics? Maybe but I have a tough time buying the argument that the drought of '12 did long term damage to our demand base. If you believe it did, how much corn would we be using now without the drought of '12 and how could we supply that demand?
The drought caused some livestock liquidation, $8 corn planted 96m acres in 13. |