We're already seeing a pretty good pop in basis here as we near the end of corn harvest.  There's actually a bid EAST of me that is higher than local bids... and some $4.50 cash offers out here already...

Couple that with a similar pop along Indiana and Ohio.. and you can see that we did NOT raise enough corn acres for 2015..

On DTN's fertilizer report yesterday (or whenever??) they talked about lack of movement to South America..  You can't raise corn without nitrogen..

So I agree that "more beans.. less corn" are in the offering for down there.. and that they will probably skimp on inputs.. magnified by whatever Ma Nature does to them..

Their currency has been beat down so badly that unless it goes to zero..???  A chartist would expect a snap back to some level.. but like others have said.. what looks REALLY good on the sales side is equally REALLY BAD on the buying/inputs side...  Which means less corn.

The world is going to need SOMEONE to raise more corn next year... 

$4.50 bids out here... already...  "wow."