corn is cheap
Fundamental Update ---
Weekly total fuel ethanol production rose to 946,000 barrels per day on the week ending November 7, up 17k from the previous week and 19k above the comparable week last year—the previous record high output mark on this date. That takes cumulative production since September 1 to 912k bpd, 27k bpd ahead of the previous record pace in 2011/12, and 35k ahead of last year—a YTY increase sug- gesting nearly 200 million bushels more annual corn grind.
Re: corn is cheap
If old man winter is going to be this brutal there will also be a lot more feed demand. There is usually a lot of corn stalks baled and fed to cows but not so much this year around here anyway. Them calves are a consuming thats for sure. Cheap grazing done for now. But maybe it'll be 60 in January ya know global warming and all.