EC Nebraska | PeteMN - 9/15/2017 00:45
but don't we have a big supply worldwide right now? And isn't that why prices have failed to rally much all summer? So going forward it looks like more of the same to me unfortunately unless somebody's crop fails.
All it takes is a 165 national yield (which is NOT a crop failure) and then some kind of significant threat to next year's crop (delayed planting or some such thing) to provide the fundamental excuse for a major spring rally. Nothing in Fry's comments says that we are going much above $4 before May 2018. (we could, but don't have to). So farmers can sell most of the 2017 crop on any probes above $4 during the winter, and then the price can really run during the spring rally.
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Im sorry.... nobody is going to believe me...
