Centre county Pennsylvania, USA | Kevin, OK, we're on same page now, thanks.
Figure3 in that article shows corn price trend after 2007 is :
y = 43.63(1/x) + 0.49.
If we solve that equation for x, i.e.:
x = (43.63 +0.49)/y, where x = EndingStocks/Use (%) and y = cornprice ($/bushel),
and use current March future price for y, we get,
EndingStocks/Use = 12.46 %.
It will be interesting to see how close that trend projected EndingStocks/Use is to the March WASDE number to be released later this month. |
My question, and then I've got to go...
