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Newsom on the Market
Darin Newsom DTN Senior Analyst
Wed Apr 10, 2013 10:45 AM CDT

You could call this round of USDA numbers "The Theatre of the Absurd." Regardless of where you look, you see numbers that make no sense and, in some cases, actually make it appear the government is arguing with itself.

Corn is a perfect case in point. In its March 28 Quarterly Stocks report, USDA estimated 5.4 billion bushels of corn on hand at the end of February 2013. This reflected Q2 (Dec through Feb) demand of 22.1% of the total supply estimate of 11.894 bb, the lowest such demand since the 2009-2010 marketing year and second lowest going back to ...

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