northern edge of north central Missouri | w1891 - 8/27/2024 09:59
I have to ask the question then. What would price be if corn carryout was increased by 100mb or decreased by the same?
Edit: For example USDA decreased new crop carryout by 20ish million bu. Dec corn has traded down 25 cents since then. Why has that happened?
Because traders have been comforted by USDA prediction numbers of a plentiful volume of corn. Traders have had nothing to scare them out of their gambling shorts which serves to drive the price lower. Remove those shorts and the price would be higher. USDA provides comfort to that element of price establishment.
Obviouslythe interim between the selling of physical corn and the time those shorts get lifted because of final destination sales contribute to price decline as well (actual real market action) .
Let me ask you.
Where would price be today if USDA printed a 174 in august?
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But Joe said the crop is made
