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S Illinois | You have looked at a price chart from those years correct as there seems to be some confusion as to the market action? The market and industry knew? Seems they sure showed a weird way to express that as prices fell from summer of 2019 on. Pull up a July or Dec 2020 chart. The market bottomed the week the 181 number was released, not after. However the derecho occurred that same week. The market climbed $1 in the next 4 months. The market never traded the 181 number.
Edit: And we have to think about the if and buts, because if one thinks this is another 2020, simply have a normal finish is not what 2020 was. Would seem like a poor comparison then.
Edit 2: A player in that massive demand was the Brazilian drought experienced in the spring of 2021. That was a large player in why corn demand and specifically exports skyrocketed. Brazil corn production fell roughly 600mb year or year. Those 2 happenings(US 2020 weather, export demand) don't happen and we have a 2015 market on our hands for the next year instead of 2021. It was more than just a simple USDA overstating a crop. Ratings were good going into Aug 2020.
Edited by w1891 8/11/2024 20:37
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Corn Carryout guess for 24/25 tomorrow.
