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NE SD | A well respected market advisory stated recently he thinks its possible we have already shaved a billion bushels from 2019 carryout. With the weather prospects we have the potential to lose allot more. This is pretty easy math and that doesn't spook the funds into covering shorts? 1.4 billion is still pretty safe i guess but we simply are not going to grow the crop that we have the last 3-4 years. Maybe it won't be a disaster but its almost a foregone conclusion it will not be that kind of crop. I get the feeling that the market in general is more comfortable waiting to see what gets planted and then destroying demand in order to stabilize carryout if need be with higher prices later vs offering higher prices now in order to insure supply. Almost like the bigger picture is potential loss of demand not potential loss of supply. IDK. Just thinking outloud. | |
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lethargic markets making me nervous
