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Pierce county WI | So, I was a little surprised by the stocks report. It wasn't crazy bearish, as it's less than a percent of last year. Since ethanol and exports are known numbers, did feed demand go down? Did the crop get bigger? Neither of those makes sense. No way it's a bigger crop. Feed demand is strong, cattle on feed is the second highest on record. Quarterly hogs and pigs is 105-106% of last year. That's lots of feed demand. So what is going on. I think farmers got to doing a little fibbing. Commercial stocks were down 2%, and farmer stocks were up 3%. So commercials have less corn, but farmers have more, why? Cfap and mfp. They padded the numbers to get more money. Come September, where did the stocks go? Test weight is still going to figure into this yet. 2010 anyone? | |
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Supply side
