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SC Iowa | probably need to get production down to 13.2 byn.....which is a 159-160 bpa crop
and some help out of SA in the form of smaller corn plantings
I use the Z/Z as a measuring stick, but agree that getting the full size out of the move may take longer, which means if you start off long the Z17 you are going to be rolling the long hedge to the H or K months....
it may take until the Jan report for all of the cards to be visible
I'm a believer in the inelastic nature of our corn demand base.....wheat has recovered enough that we should not be substituting wheat for corn except in rare cases of quality or logistical issues......so that leaves exports as being the one area where we could trim....
wouldn't it be a hoot if Mexico HAD to import corn from other countries because of a short US crop
maybe that is why they keep buying at a normal pace out of US
I think there is complacency in grain markets after several big crops......probably aren't giving mother nature enough credit for the big crops
all it takes is two slightly subpar crops in both hemispheres to make things very exciting | |
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A few comments
