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SC Iowa | MRK......I went back and looked at april and may 2008 supply/demand reports..
On April report, the projection for Sept 1, 2008 ending stocks was 1.283 myn bushels
On May report, the projections for Sept 1, 2008 ending stocks was 1.383 myn bushels
In May, the first projection for Sept 1, 2009 ending stocks was published---at 763 myn bushels....
that is one of the big reasons you are seeing the front end lead the way higher......
A lot of folks have coverage in the futures market----BUT DO NOT HAVE IT IN THE CASH, WHICH IS WHAT THEY NEED
** The market is focused on next 5 months....and will worry about next year after current issues are resolved. | |
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Corn futures in June of 2008
