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S Illinois | My guess is the many of the wheat stocks are sitting in elevators in Ill, In, Mo and Oh. and then in N. Dakota, S. Dakota, and Mon. Out of the 691 mil bu carryover SRW is 185mil. and HSW has 189mil. It happens many times in SRW country that elevators store for years at a time. Carry and the need to blend off poor quality wheat is a big money maker for elevators around here.
On the feed side of things, the spread between SRW and corn has been high enough to (edit: not) justify high feeding amounts and exports have been slow. SRW growers were somewhat lucky that acres were hard to get in this fall otherwise we could be in real trouble. Even with production down 118 mil compared to last year ending stocks are forecast to be 72 mil. bu. higher. Even now basis is $1.00 under at the local elevator.
Edited by w1891 3/27/2015 12:50
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