Bogus USDA reporting...

[furrowtickler]

That lest report is almost laughable compared to reality....
https://www.indigoag.com/pages/news/august-production-forecast

Some highlights...

[furrowtickler]

The real story
Fudging numbers that affect farmers bottom line profits should be illegal.
Time will tell what happens but indigoag has a much better grasp on reality 👍👍

[Bowerpower]

I agree usda is off, but I don’t understand their angle. Wouldn’t this be the time to underestimate yield. Make grains more expensive and put more pressure on china.
Or are they just trying to push this out far enough where they can factor in next years record breaking production just to keep prices down. I wouldn’t think so but maybe I got my head in the sand.
Or are they just incompetent like most government agencies?
I was truly baffled at Monday’s report. Imagine where prices would be had this been a normal planting year.

[macdon02]

I agree usda is off, but I don’t understand their angle. Wouldn’t this be the time to underestimate yield. Make grains more expensive and put more pressure on china.
Or are they just trying to push this out far enough where they can factor in next years record breaking production just to keep prices down. I wouldn’t think so but maybe I got my head in the sand.
Or are they just incompetent like most government agencies?
I was truly baffled at Monday’s report. Imagine where prices would be had this been a normal planting year.

There hasnt been a bullish report since Trump was elected, having said that, corn put in a bottom on a yearly level and has consecutively put in higher lows. Somewhere in the archives of this ancient platform i posted how the feed use numbers are being cooked and weight gain in livestock is exceeding anything possible. Apparently air is fattening or cattle are retaining methane and converting it to muscle. Yeah the numbers are ****ed but it is what is. Either trust govt or don't. The higher lows are the most telling that the trade doesn't trust the numbers in the face of an increasingly more bearish situation.

[malleefarmer]

Agree this report seems baffling on acres and yield.

MacDon you may disagree but as long as I’ve been following usda reports etc 20 years maybe despite all the chest beating rhetoric from farmers there usually within 5% of actual either side at years end.

But I concur looks fudged.

Haven’t looked at net position of funds lately they short and letting it free fall or net long and getting sweaty palms