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Longer term Snodgrass presentation for fundamental traders.
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Swmnag
Posted 7/29/2020 23:34 (#8404086 - in reply to #8404058)
Subject: 1992, 1994 analog year


The 1992 crop was 5 percent above trend and the 1994 crop was 10 percent above trend. At the very highest a 1994 crop would be 196 National average. The 1992 crop would be a187.5 National average. The forecasted cool August is closer to 1994 after a dry hot May and June. Our carryouts could be as high as 3.6 billion bushels and as low as 3 billionaires bushels. Demand isn’t Ramping up enough for these carryouts.
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