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Re: ICO: Market Report for May/2021
One might also say that there has never been a year when one could not buy corn or soybeans or coffee. The question is how much will one have to pay for these items? With a few more larger than normal export report numbers, the marketing year end carryover in corn and/or soybeans could actually reach zero! I don't believe that has ever happened before. I do not believe that the USDA or other countries equivalents of the USDA will actually admit that demand has exhausted supply, but we may be approaching that point. Too many people riding on this space ship and some crop yields falling due to climate change (drought and/or heat). Corn has been and is still well over the equivalent of $10.00/bushel in China. One more drought, flood or severe storm damage in any of the world's large crop growing areas this coming year and the world will indeed see "not enough".