Posted 6/30/2020 15:24 (#8345661 - in reply to #8345559) Subject: Conspiracy theory
Pierce county WI
Oh come on now. You yourself said where's the missing acres? Last year they tweaked the feed number in the summer. We all know feed demand is strong now. They always kick the can. Basis has been screaming the crops not there. How do you kick the can? Put a pie in the sky acre number and then adjust later. Bringing the production number down, but wait! Don't worry- we have adequate stocks for now............... Face it, tighter old crop would really hurt demand. Trying to export, trying to sell ethanol, livestock guys hurting. With adequate growing conditions we keep a relatively comfortable ending stocks. At the same time it's not a black cloud over the market. Hopefully demand continues to improve, and the numbers can get looked at again in September. The good news is, it sets up the weather market!