The data shows the USDA is consistent. They consistently over estimated corn supplies and stock projections. They are 100% consistent in this respect. The USDA stunned the markets, at least momentarily, by their latest corn estimates a week or so ago. More and more participants have called this data into question, now inc MS. I’ve been following farmers websites and their views on the nos. Amongst the farming community their is almost uniform disbelief in the nos. They are reporting poor conditions for corn this year which is greatly at odds with the USDA. Il’ll post some links on this shortly as its a very interesting and explosive story given the wildly different perspectives on the coming harvest.
Rich
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