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Corn tumbles 2% as the USDA lowers its expected crop yield and harvest only marginally from last...

Corn tumbles 2% as the USDA lowers its expected crop yield and harvest only marginally from last month's estimates. Also lowered were expected exports - to 1.25B bushels from the already low figure of 1.3B. As a result, new crop ending stocks are now estimated at 733M bushels, up from 650M.
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  • Glenn Doty
    , contributor
    Comments (1116) | Send Message
     
    The problem is these numbers seemingly have no connection to reality.

     

    The first 10% of the crop harvested averaged only ~86 bu/acre. Sure that's going to be among the worst fields, but 85 bu/acre is a very long way away from 120 bu/acre. This is going to be a tough disparity to reconcile.
    12 Sep 2012, 10:58 AM Reply Like
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