date:Aug 10, 2012
89 billion bushels. This is scary because last month, USDA had a 12.72-billion-bushel usage number. The production number could come in at 10.5 billion bushels and a 127-bushel average yield estimate. That means we would need to price out about 2.47 billion bushels from demand.
Where's that demand drop going to come from? Dan Basse, president of AgResource Company, said Thursday though there are a lot of potential losers, the sector most likely to bear the brunt of the demand slash will be the l