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China buys again
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Joe R
Posted 5/18/2021 09:21 (#9011448 - in reply to #9011419)
Subject: RE: China buys again


I agree with most of what you said except "In their eyes the crop has full potential at this point and they will adjust accordingly as the summer progresses "

That is where they fail. They did not adjust accordingly in 2019 as the summer progressed. They kicked the can down the road another 15 miles. They make their adjustments 18-24 months later and try to slide in into the back side of a report. That is why we are in the situation we are in. 2019 was a complete train wreck and they did not acknowledge it nearly at all. When Lance Honig was quoted as saying "we have to count the corn planted for a forage/cover crop in July as "corn planted" because we can not tell the difference", it was a huge red flag that they had no grip on the reality of the situation. Its not 1976 anymore.....they have live data at the click of a button.

The Chinese have seen this. They know how the USDA works. They also know that CONAB in SA is doing the same exact thing right now and not admitting fully to the damage of the Safrina corn crop. They know what the real story is and are buying while the time is right.....and they are buying big.

Edited by Joe R 5/18/2021 09:22
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