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NW Indiana | Just looking at fundamentals from a distance current corn demand is projected at roughly 16.5 billion bu, prior to this past year the biggest crop we have grown is 15.3. If china does buy 25mmt of soybeans they need to go back to a more recent acreage number. There is a reason price has remained in the same range, demand is strong and it will take a solid crop to meet it. Until we see a hiccup in production we are likely to remain in the last couple years price range so sales in these areas make sense but imo if we break out it is likely to the upside. | |
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