So you think that the milo going into feed and ethanol doesn't lower the corn demand 1 for 1?

If we had accurate data.. it should.. but as we know the WASDE understates demand.. see Soybeans..

Here are the Historical WASDE 14/15 Soybean Carryouts when the WASDE changed them.. (and the 15/16 projected..)

( http://usda.mannlib.cornell.edu/MannUsda/viewDocumentInfo.do?docume... )

Aug  430
Sept 475
Nov  450
Jan  410
Mar 385
Apr  370
May 350
Jun  330  15/16
July  255
Aug  240  470
Sept 210  450

Oct  191    425 

It is unclear exactly where the ethanol grind is.. other than it is MORE than what is currently forecast on the WASDE..

We have shipped more Soybeans AND Sorghum vs this time last year.. Something is going to have to give.. can't do both..