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| I always figured a 2 month supply at the onset of harvest was neither burdensome nor tight. Think this year is in the 56ish day range. Because of a variety of factors .... ongoing harvest in the south that will progress to the north and consume the remainder of the calendar year, along with production areas not perfectly aligning with demand points, every year will have some localized areas where there appears to be a shortage, while others areas will still be drowning in big -.xx basis bids.
At the end of the day, ‘pipeline supplies‘ is just a general term to me without specific definition. | |
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