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NW Indiana | Farmers like to discuss supply and do a lot of marketing based on it. What everyone should be asking themselves is what does say 25 more cents do to demand? Another 25? According to the wasde an average farm price of 3.60 created demand of 13.78 for 19/20. The projected price of 3.20 has the current balance sheet showing a demand of 14.8. So does 40 cents cut demand 1 billion bushels? Hard to get $4 bullish when you look at the demand numbers. Granted the market structure doesn't always balance S&D as it will sway back and forth looking for the right price. | |
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Weather market or not, demand is getting better too
