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NW Indiana | All we heard last year was how great of a crop brazil was having and that turned out to be 158. So now you are saying "great" is "normal" so just 5mmt more should be the starting point? Sure they might even beat it but 10 out of the last 12 years the usda overestimated their production in early reports, that isn't a small percentage. Previous record is 195 and yes I get there was big hiccups the last two years but 26mmt over previous as a STARTING point? What is wrong with raising the bar if things look good after its in the ground?
So according to what they have been doing they will print just shy of 184 in May for the US, does that really make sense considering how flat the trend has been the last 10 crops? | |
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Chinese bean purchase
