Re: Floor Talk February 9, 2021 (Report Day)
Not worth reply.......... three words that summed it all up good statement.
I read back through every commenter in Mikes report and each one said the report was negative to the market and went on to say "we can't think of a reason why"
As I remember corn stocks were not much below this in 2012 when we watched texas corn being shipped up the mississippi river to supply demand that had no supply. But that was in August and september.......... this is february and you can bank on usda overstating carry ---- they will not go below a comfort level . Even if we need to contract some imports to add to the existing stock or just count that Iowa corn that got plowed into the ground. we will harvest it again ........... someday. Even if we are out of cereal on the shelves there will still be 1.2 billion of corn on the books.
From abundant excess to limited supply in what was it............ 90 days of harvest???? Usda delivered...... they trumped my wildest expectations. Go tackle climate change. Don Quixote .