SodbusterIII - 4/12/2024 07:29
Supply and demand must balance so if you have 2mmt less production but 20 mmt less demand those 18mm be accounted for some place else. Conab has not accounted for that 18mmt.
Edit to add :: I see there is some difference in production between the two reports but most certainly not all is accounted for on balance sheet.
Conab is down 21 mmts yoy on production down 23 on exports
USDA is only down 13 on production.. only down 2 on exports
The two data sets do not align.. might as well be talking about 2 different countries.. and they haven’t aligned for “awhile.”
 (4470EAAD-F29B-41F6-9A8C-16BCE0D9FC9E (full).jpeg)
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 4470EAAD-F29B-41F6-9A8C-16BCE0D9FC9E (full).jpeg (52KB - 25 downloads)
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800 million bu difference in Corn exports between Conab and USDA
