Posted 2/23/2021 09:03 (#8852730 - in reply to #8852714) Subject: RE: New crop?
It is going to take every acre available to hold world pipeline from draining. The market has those acres penciled in and new crop is still getting risk premium added. SA is having the slowest soybean harvest in 10 years......yields and quality are dropping fast. That is a big deal for soybeans, but a bigger deal for Safrina corn crop which is roughly 75% of their total corn production. Their ideal planting window closes this week with roughly 30% planted at this time and not favorable weather moving forward.
World supplies are slipping daily. Anything less than trend/record here in the US and it could get very very interesting.