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South central Minnesota | That 82 mmt isn't quite as burdensome as one would might think. Let's compare to just a few years ago, After 12/13 year the carryout was 57mmt so we have seen an increase of 45% but usage has increased to the point that even though 57mmt represented 21.9% of world usage in 12/13, that 82 mmt represents 24.9% for the 16/17 year. that 57 mmt works out to about 80 days supply , 82 mmt works out to about 91 days.
Also to mention, carryout is expected to be down from last year as a percentage of use, .3% doesn't seem like much but demand is present and ever growing to the tune of over 500 million bushels a year, tough times.
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What acres are currently priced?
