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SC Iowa | I believe that the sept 1, 2013 ending stocks for corn could easily be raised 50-100 million bushels....maybe not in this report, but over the next several i think it is possible
Unlike 1996 when we literally ran the country out of corn by mid August, there is still corn flowing to market, and if our basis bid was +75-80Z instead of +35Z, we would be buying a lot of old crop corn from commercial elevators.....even at +35Z we are buying 30-40,000 per day of spots and just about all of that is old crop corn...
there are people holding sizable amounts of old crop corn, but you aren't going to hear about that in the coffee shops after it has gone down $2.50 per bushel since last spring......and the bulk of them have now decided to ride it through the balance of the inverse and start over again at whatever the harvest basis low is going to be....
after all, I went to a seed corn plot tonight, and the first thing I heard was that Sue Martin was on WHO radio talking about $7 corn today....
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Ray Jenkins is calling on Missouri farmers to help him
