Andrew Luzum

Yes, yes. I think you had some of this. I mean, if you watch this rally over the last... two to three, I mean, just in this last week, really, I think you were building some of this in already. And I think on a go forward, you know, just tightening up bean carryouts versus this expectation of a half billion bushels, now it's not. Those are all good things.

And honestly, a slow steady move here rather than a limit higher move is probably better longer term as we look at these markets, you know, going forward over the rest of the winter and early spring months here.

And honestly, a slow steady move here rather than a limit higher move is probably better longer term as we look at these markets, you know, going forward over the rest of the winter and early spring months here.

And honestly, a slow steady move here rather than a limit higher move is probably better longer term as we look at these markets, you know, going forward over the rest of the winter and early spring months here.

Yeah, certainly. So, we took national corn yield, dropped that about seven-tenths of a bushel an acre across there. Nothing super drastic there. Cut our carryout slightly because of that. As I mentioned, they didn't do anything with exports. Obviously, if you look at export pace, we're actually well above needed export pace here. So,

Yeah, certainly. So, we took national corn yield, dropped that about seven-tenths of a bushel an acre across there. Nothing super drastic there. Cut our carryout slightly because of that. As I mentioned, they didn't do anything with exports. Obviously, if you look at export pace, we're actually well above needed export pace here. So,

Yeah, certainly. So, we took national corn yield, dropped that about seven-tenths of a bushel an acre across there. Nothing super drastic there. Cut our carryout slightly because of that. As I mentioned, they didn't do anything with exports. Obviously, if you look at export pace, we're actually well above needed export pace here. So,

That could be something to watch in the go forward on the next few months as we, you know, get more, you know, get another month of sales underneath our belt. You know, if we could clip another hundred million extra and take that out of the bottom line, then suddenly, you know, 1A carryout, that's a whole lot different than 2-2-2-3 implied at one point, you know, during the year here. Yeah.

That could be something to watch in the go forward on the next few months as we, you know, get more, you know, get another month of sales underneath our belt. You know, if we could clip another hundred million extra and take that out of the bottom line, then suddenly, you know, 1A carryout, that's a whole lot different than 2-2-2-3 implied at one point, you know, during the year here. Yeah.

That could be something to watch in the go forward on the next few months as we, you know, get more, you know, get another month of sales underneath our belt. You know, if we could clip another hundred million extra and take that out of the bottom line, then suddenly, you know, 1A carryout, that's a whole lot different than 2-2-2-3 implied at one point, you know, during the year here. Yeah.

And, you know, we found a pretty solid demand for a $4, you know, de-scorn future equivalents and, you know, keep selling it. That's the name of the game here. And we've been flashing some unknown sales. Who knows where those go? I think some people, you know, want to think that might be China. I don't know that that's the case today, but any demand is good demand at this point.

And, you know, we found a pretty solid demand for a $4, you know, de-scorn future equivalents and, you know, keep selling it. That's the name of the game here. And we've been flashing some unknown sales. Who knows where those go? I think some people, you know, want to think that might be China. I don't know that that's the case today, but any demand is good demand at this point.

And, you know, we found a pretty solid demand for a $4, you know, de-scorn future equivalents and, you know, keep selling it. That's the name of the game here. And we've been flashing some unknown sales. Who knows where those go? I think some people, you know, want to think that might be China. I don't know that that's the case today, but any demand is good demand at this point.

Uh, you know, obviously there's times where if they want to keep their head low, I mean that the thing about those like unknown sales, that could just be an exporter just, uh, selling fob us grain that, you know, could end up going out of another country. So, you know,

Uh, you know, obviously there's times where if they want to keep their head low, I mean that the thing about those like unknown sales, that could just be an exporter just, uh, selling fob us grain that, you know, could end up going out of another country. So, you know,

Uh, you know, obviously there's times where if they want to keep their head low, I mean that the thing about those like unknown sales, that could just be an exporter just, uh, selling fob us grain that, you know, could end up going out of another country. So, you know,

Obviously, the first thing people think of when they see unknowns, because in 2020, you saw a lot of unknown sales that turned out to all be China. So everybody wants to think that. But regardless, demand is demand. And wherever it's going, that's a good thing.

Obviously, the first thing people think of when they see unknowns, because in 2020, you saw a lot of unknown sales that turned out to all be China. So everybody wants to think that. But regardless, demand is demand. And wherever it's going, that's a good thing.

Obviously, the first thing people think of when they see unknowns, because in 2020, you saw a lot of unknown sales that turned out to all be China. So everybody wants to think that. But regardless, demand is demand. And wherever it's going, that's a good thing.

It's all data-based. Obviously, they impute data from – so you've got NASS, so like National Ag Statistics Service that would be doing the monthly production reports and yield estimates on domestic crops. The World Ag Board takes those into account. for the U S numbers. And then, you know, they're using ag attache numbers from various countries around the world.