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Midwest | if ethanol goes away, that 2.30 low would look to be a reasonable target. A five billion bushel carryout could do that. After two years without ethanol we could have C/O of 7 or 8 billion bushels. And everybody would want to plant beans, except they would be $4 per bushel by then. By then everybody would be trying to "walk" the corn off the farm and hogs would be back to the 1998 lows of $8. I remember that-not much fun to be a farmer with those prices. | |
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Here's a trend line for ya...
