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Re: CZ12 Dec Corn Chart/Randolf

Hello All, Yield reports coming in from Central Illinois. 70 - 80 bushels per acre is the average with only a couple of fields at 100 to 110 bpa. None even close to the USDA 123 bpa prediction. Low test weights in the 48 to 52 pounds per bushel further degrades the overall crop as far as quantity and quality. Those low test weights are major dockages for exports. Moisture ranges from 17% to 22%. I still do not believe the entire US corn crop will be more than 7 billion bushels. There is a lot of this disaster figured into current prices, but IMO $9 is not out of the realm in the late winter when processors will be positioning for the summer "sugar" production rush, plus livestock prices will be through the culling stages when true supply/demand resumes. Randolf, I do like to see you charts and analysis. Thanks. M