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S Illinois | Any particular reason why you are so bearish on Sept 1 carryover when compared to to USDA? USDA is showing y-o-y of 583mb increase in ending stocks. If one were to back off exports for next year by 300mb and keep the other demand static, 83 million acres at 170 draws down stocks~200mb. While not a market mover, it does put a bottom in the market for a while. With likely production between 165-175bu/acre we are looking at ending stocks next year between 1700mb and 2500mb. | |
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rain/cold
