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| I mean lets think and talk about it. Has to be the least sold ahead crop in recent memory. Maybe ever. We had a summer rally on heat twice, but not to the level of last years cash. High input costs and levels of drought in places that created no incentive for some to sell. Everyone thinking yield equals price (!). But high prices create global production, meantime demand of our goods is down.
So is harvest pressure magnified? Top 5 all time crop and a 2 bill bu carryout next year. Prices job is to find buyers. Means keep going lower until those buyers are found, unfortunately. We will find them. But not until price drops first. | |
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Grain markets showing harvest pressure
