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| Tara you know better than this! Since we both filled out the June 1 Surveys you would know that usda asked for all bushels stored on the farm, sold or unsold did not matter. Do you think the elevators report physical inventory or hedged bushels? Seems to me that this is an area of contention. I specifically asked if I should include contracted corn still on the farm and the survey official said yes , and I would bet the elevator reported them as well! On the acreage part of the form it requested planted or intended to be planted NOT IN THE GROUND! As of June 1 there where several million acres in the bag yet. The honest answer is nobody knows for sure but if the corn is in the ground the real shock might be the bean acres are actually limited by the PP acres that do need to be accounted for. One last thing sometime ago you stated that the inverted market between July and September signaled to you that the end user was covered and the market was set up for a top since the spread was declining. What did todays action tell you? | |
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emotions ruuning on high
