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| A year ago, the drought hadn't happened yet......but was in its infant stages. There was no reason to not assume a normal crop when they missed 1 early Feb rain, but then they missed another and another........
Look at that Dec 18 wasde... It has the last 2 years 'final' numbers. 16/17 55mmt and 17/18 37 mmt.
Again the 'ending stocks' numbers that you are looking at represents inventory on AUGUST 31, 2019. That date is right before the northern hemisphere harvest and not too long after the southern hemisphere harvest was complete, so on that date, the southern hemisphere countries will logical!y have the majority of the world inventory. | |
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115 mmt's of Soybean Carryout.. 36% in Argentina.. 41.3 mmt's
