According to yesterday’s crop progress reports Texas is 60% harvested on Corn.. projected to be a 208 million bu crop.. so 115 ish million already in.  The area harvested is probably the blacklands and costal bend down south of Waco.

We’re just starting to see some early burnt up dryland coming in here.. mostly along the I 35 corridor.  Basis has relaxed some but.. Elevators get one shot at harvest and given the amount of storage sitting empty.  Bids are still firm for new crop.. our local elevator.. so far.. hasn’t done much for a bunker.. so despite the acreage.. plenty of room.

I think this adds some clarity.. The big Stocks build.. 185 million extra on farm stocks vs last year in Illinois.. Iowa supposedly had 130, Minny 95, SD 75, ND 62, Indiana 45.. It said Ks had 27 more but commercial was down 18 so?.

Commercial in Iowa was down 57 SD down about 9.. so the narrative about tight fisted farmers.. or as the WASDE adjusted residual error.. was last years crop overstated?  Remains.

w1891 is over where bushels are flush.. meanwhile we are still importing shuttles till harvest.. and will probably need more later.. so..

fwiw.

Last weeks exports were double vs last year..guess we know where it’s going.. Still Funds have to compete vs demand to cover their shorts. 

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