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S Illinois | The small amount of corn acres put on PP ground in 2019 were NOT counted as planted corn acres. That is an absolute falsehood.
If Aug 2020 weather wise was anything close to normal it would have been a whole different story. All it took was the largest, most widespread, destructive derecho in recent memory to hit a high production area and a top 10 driest Aug in the highest production areas https://mesonet.agron.iastate.edu/plotting/auto/?_wait=no&q=24&which... to bring yields down 10 bpa. So yes yields came in well under the Aug report. But the market didn't sit there and bottom in the summer of 2020 because the USDA said so. The market wasn't stupid. They new demand looked weak coming off the COVID economy low. The market knew the weather was good during the first part of 2020 which meant production was going to be large. That seems to be the idea that if only the information wasn't there the market would have to bid up. That is not the case.
I gurarantee the day the USDA reports are removed farmers would complain about private companies manipulation of numbers or lack of transpancey. Look how pissed pepolple get at things like StoneX and other private right now. And that stupid line of "they are trying to match the USDA" is a cop out. Too many need a scapegoat for their own lack of risk management. So yes I will cast stones at a group that has been shown to be rather poor at objectivity or perspective. Most farmers live in their own bubble.
Edit: Link repair
Edited by w1891 8/11/2024 15:13
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