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SE Iowa | Would agree on the market sentiment.. been hearing 175-76 for at least a month now.
Stonex says its what they think usda final number will be..not what they will say aug 12... which really makes no sense without ear wts. and counts..
I would not agree on farmer sales % though.. maybe in damaged areas but strong harvest basis pushed sales... and price..second wave should arrive after the numbers from excellent areas tamping down any rally like every year...except ly. Until that clears i suspect world cash values will keep prices supported and appreciating.
additionally production will continue to trend lower due to 500-1m acres cut for silage for hay needs.. have not seen the cow slaughter like a liquidation phase would show.
Edited by Palmtopper 8/4/2021 06:47
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Just a few thoughts and figures
