Why Are Bearish Corn Facts Ignored?

Maybe I am beating a dead horse trying to get the U.S. farmer and farmers around the globe to limit the risk of storing grain unpriced. The facts are so blatantly clear that the world grain stocks are huge. U.S. farmers know what is taking place in their local markets, US markets and world markets. They know farm storage is filled and they also know buyers have little to any storage currently available. They know 2014 is a buyers' market compared to the past two years. Cash basis is a daily reminder that the cash market is soft. I have talked to grain buyers that for the first time will carry corn not in bins, but stored under cover outside. There are reports that farmers will leave corn in the field rather than selling it, or paying to store it.
It is no secret that total U.S. corn yields broke records in 2014. If it isn't a 15 billion bushel crop, or close to it, will make little difference. One brighter light for grain prices; feed usage is up with cattle feeders pushing new heavier weights for steers. For the first week of September, average carcass weights hit a record at 885 pounds. In October carcass weights stopped four pounds off 900 pounds at 896 pounds. However, the herd reduction with droughts in the Southwest in 2011 and the drought of 2012 reduced overall heard size that doesn't equate to feedlot size before the drought. With the increase of coarse grain yields, along with the drop in export demand for corn and wheat, the increase for feed is a little more than a drop in the bucket. It is also expected in 2015 to see total cattle feeding to drop with larger percentages of heifers being bred.  (more)
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