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NW Indiana | Carryout with a trend yield is likely to grow to 2.5-2.6 after you factor some higher demand. That is a stocks to use ratio of 17%, that isn't anywhere close to the carryouts of the 80s pushing 50% stocks to use. Besides look at the prices from the 80's it hardly reflects the carryout was anywhere near that large. The biggest unknown we have currently imo is what impact has inflation of the last few years had on prices going forward. I'm not suggesting anything drastic but would a 50 cent bump in the range be realistic? So 3.50 is now the floor? 4-4.50 more the norm with summer rallys to $5 even with a large carryout? I'll let you know in about 5 years | |
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Odds December corn hits $5
