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Red River Valley | Ok Mr. market you have proven to us that we missed last years Yield. The USDA has done this in the past the high water mark for negative residual ( if I remember correctly) was somewhere over 100mb.
In the past when they end the season with a negative Residual number they re-adjust the yield in the years finial report to bring it back in line.
They are not accounting for anything early harvested, it is and will all be about last years yield.
Ever since May gave way to July at a carry the market has been screaming there are more beans in the country than you know Mr. USDA and at this point the USDA has said Your right Mr. market. Some have talked about this on a few occasions, Some have been jumped pretty hard about it.
There is a lot to be garnered in watching spreads in markets - a long time ago I was told that the smartest traders on the floor were those that traded spreads- and since then have watched it play out many a time.
so in closing John the adjustment will come to last years (2013 harvest) yield and not steal forward from this years
Hope that helps
have a good weekend
Edited by Tara Farms 7/12/2014 06:19
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What's up with the Negative 69 myn Residual in Beans?
