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| I was an original skeptic about the growth of actual usage & is one of the reasons I went to the sidelines on corn late last december. I feared the usuage for the Sept Nov period could not possibly hold up & most livestock is not too profitable at $4.25 corn. I had fallen into the trap of believing the news....in fact we ground 690 million in that quarter & from my conversations, the industry is seeing a brisk demand & they swear there will be an additional 5.7 B gallons added by July 2009. At the rate of increase, I am sticking with the USDA projection of 3.2 billion bushels used...as I was wrong the first quarter. | |
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