A great point Palouser, ------- I think it is true not only on a world wide basis but within our country. It is the basis for the indigestion I get from usda reports. All year long they promote the idea that the pool is full of grain that is yet harvested and that it is available to all at their front door. Basis tells us different. Yet a down market with strong basis can and did happen in 2013.
I think the misleading "liquidity" of the grain supply is disturbing.
"Just in time" supply chain is not going to work well, And that is what we have with these small carry numbers.
Even the projected 1.8 corn carry is not much over 1 month of usage. IMO that is not a comfortable cushon in a country this big and a consumptive market using the volumes we do. And we offer that cushon for sale like we had a three year supply.
