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Barchart
Darin Newsom

Grains: What Do We Already Know About Supply and Demand?

USDA United States
  • The vast majority of the industry can tell you exactly when the next round of USDA Supply and Demand make believe numbers are set for release. 
  • Yet, most don't have a clue about what the markets are saying regarding real supply and demand. 
  • As February came to an end, the US was faced with growing supplies of grain in relation to demand. 

Let me make something clear in the beginning: This is not a preview of USDA’s monthly Supply and Demand reports set for release at noon (ET) Friday, March 8. If we stop and think about it for a moment, those things are – well – stupid. They usually come in two forms: 1) They are making guesses about USDA’s guesses, meaning they are doing nothing more than playing the monthly game of Pin-the-Tail-On-the-Donkey (Jackass?), or 2) They are reporting on those who are making guesses about USDA’s guesses. Take a step back from the edge and consider what that says about the reporting/commentary/analysis industry in general. 

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