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| that last year's crop was there. So the June report was the correction, not the mistake. Finding it again is now a mistake. Last years crop came out light, wet, and inefficient. I still believe that and still think that finding 300M again is a way to cover the fact that IA and IL will come in combined about 300-400M under what the USDA crop report said in September. So you add 300 then take it away and we keep final carry somewhere in the 1-1.1B range, just enough fudge to keep it ballpark, but not so much that we get down to 700-800M carry which would send things much much higher.
Agreeing with other comments, this wash was needed. We will move a leg higher soon.
As for the USDA, its government, take a look around. Not much I can say I like about the government these days. So its par for the course.
I do have one burning question, can someone please tell me how they can segregate old crop from new crop. I guess I am ignorant, which is fine, been called worse, but I don't believe it. They didn't find 300M old crop, they found 300M of new crop. Until proven otherwise (and I don't mean because they told me so BS) I still think we get carryout down to 800ish. Two biggest corn states will come in 160 and 165ish for IL and IA respectively when its all said and done.
Edited by Mizzou Tiger 10/1/2010 20:26
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OCT. REPORT or any usda report....................
