You make a good point Red, the USDA under-estimated the bean crop last year, we probably literally ran out of beans in the pipeline. And now with the possiblity of having a sub trend bean yield there might be a compounding effect given that we didn`t start at the starting line but rather back 10 yards.
These reports only work for the enduser, all they have to do is see that the supply is one more bushel than they need, then they can just play the waiting game. The monkey wrench is grain bins, some producers are too "dumb" to listen to the "smart" gurus and store their grain.
But with Syngenta, I heard them say that stuff wasn`t approved for export, I went to a Funk Seed meeting couple years ago and I didn`t want anything to do with it or any Syngenta seed given their track record. With this litigious society will they start suing a sporting goods stores because the "deer rifle" sold was actually used in a liquor store holdup? It`s a can of worms. But USDA with these reports 300 million bushel one way or another and the farmer has either $3 corn or $5 corn. if they get too far out of whack, the traders don`t even believe it.
