southcentral Minnesota | jd8850 - 11/26/2018 01:39
But does it really matter (market-wise)? If they drop.it 20 bushels market won't respond. More of a USDA-hate thing I believe
There is only one number the trade cares about and that is a result of production and usage, carryout. As of November we are as a percentage expected to be at the lowest level in 5 years and nearing that magical 10% area that we were below from 2010-13.
Now the Chinese reassessment of their product over the last 10 years and subsequent change in their carryout and the affect on the world carryout had a momentary affect to the trade it must be taken with a grain of salt. They found a 86% of a years production sitting in bins, added 23% to this years crop and multiplied their carryout by 3.5 times. How would you feel about the usda saying carryout here is now expected to be 6 billion instead of the 1.7 we thought last month? ( that IS what they did when figuring China and world carryout) Even with those changes their expected imports of 200 million bushels and almost inconsequential exports of 2 million bushels were not changed.
As far as my personal production, down 17% on corn, 7% on soybeans.
Edited by Huh? 11/26/2018 07:31
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Will USDA drop MN yields again??
