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Central Missouri | AGTRADER, I believe that there is a tool in the toolbox this year that there wasn't in the early 70's and that is CRP. The release of CRP acres may have the same effect on the market as an embargo did I don't know. I don't feel that CRP release will happen until ethanol plants begin to shut down due to negative margins. What may occur is the same thing as Argentina does and that is a suspension of export sales until things become more clear. That is what I feel the govt will do in case of a major drought this year. I certainly hope not but it could. I just think the word embargo won't be used until after CRP is released and "export sales are suspended until the picture becomes more clear." IMHO it will take 16+ beans and 6+ corn to do that. | |
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Wheat 914 94 off high
