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Hennepin, IL | You're overthinking this a bit, forget this report for a minute. The September WASDE said 19/20 carry-in was 909mb, usage outpaced production by 334mb to get a carry-out of 575mb. That means the carry-in for 20/21 was also 575mb. 20/21 also has usage outpacing production by 115mb to get a carry-out of 460mb. The carry-in/out numbers are the stocks on hand as of September 1. So along comes the report today that says instead of having 575mb on hand as of September 1, we only have 523mb. Therefore that changes the 20/21 carry-in from 575 to 523, and the carry-out (all else the same) from 460 to 408. | |
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Beans
