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| You correct on this when it comes to commercial stocks....So stocks info in terms of a grain elevator is determined by your company DPR . How much grain you have on hand & what kind. I did these monthly stocks reports for years as part of the USDA reporting system. Unless those reports have changed, they do not inquire as to what's company owned & what is being held in storage for others. Thus off farm stocks are somewhat accurate, but not all commercial operators are required to report. So the broad assumption currently is the farmer is carrying a huge portion of the corn stocks on the farm? So if you're in the camp of thinking the gov's farm stocks are correct then yes the farmer is holding way more corn on the farm than he ever has....I don't deny we have adequate grain inventories in the country, but if your the USDA & you magically print avg corn yield @ 186.5 & add another million acres of harvested you have to say someone has it.....easy to hide presumed inventory on the farm where reporting is horrible at best?
The administration has a sizeable food inflation problem on its hands & it ain't goin away anytime soon. They are trying to keep a lid on grain values at the gate to tamp down any more grumping from the consumer. Cheaper to throw 1% of the population a bone than it is to quill the howling from the broader consumer market. Mid terms are coming!!
People generally vote with their pocketbook. Politics be damned. | |
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Commercial corn ownership
