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NW Indiana | I really didn't think I could get any dumber, watching that proved me wrong. Where do people come up with their price guesses? Do they not stop and think for a second what demand would be at those prices? This isn't 2010-2012 people. Crude isn't $100, ethanol isn't a growing market, we don't have 3 years of below trend yields going etc. Sue talking possibly below 5% stocks/use smh, so she thinks the market will allow carryout to get down below 650 million? The USDA estimate of 14.675 demand is based on avg farm price of 3.30!!!!! What is demand at current level??? 14.2 maybe?? What would demand be at $5 corn? 13.2??? $5 corn would drastically reduce the estimated 2275 estimated export number along with it would increase IMPORTS a ton, yes I just brought up imports. Ethanol will be granted that many more waivers and you can drop that demand 300-600 million easy. Feed??? Has anyone given any thought to the amount of feed that would be made available on PP acres after November 1 with these discussed prices levels??? What about the ample soybean and wheat stocks??? We are 3 cents above the lowest high December price level since 2006 and we are going crazy about hurting the end users and yet we have calls for much much higher prices??? And now we need the government to step in again?? The market can't do its job??? Have we become that dependent on the government? I'm pretty stupid and maybe that is why I don't understand.
Edited by IN555 5/25/2019 07:55
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$7.00 Sue is on M to M
