|
Custer County, Nebraska | The greatest risk in the near term isn't demand destruction like ethanol being replaced it is growing a monster crop of the likes of 2004. Going from memory here it was something like 13+% over the march estimate (could be wrong). Take a rough guess at a 176 trend and you will have something in the order of a 199 bu corn crop. Say we plant 94 million acres and harvest 86 that gives us a crop of over 17.2 billion on demand of 14.5 billion. Carry out grows over 4 billion. It would plunge past your 2.30 low.
Not that I believe that possibility is great but overproduction is agriculture's greatest threat vs. demand destruction. | |
|
Here's a trend line for ya...
