The degree to which prices are falling so early point to the belief and comfort the market has that we have plenty of grain. Not only are exports sliding, but we could possibly grow the largest crop of corn that we ever have this year.
The 2013 balance sheet below shows increasing inventories of grain on the corn side, but some smaller decreases on the soybean and wheat side. To get the real scope of what the trade is looking at however, look at the 2014 numbers at the bottom of the work sheet. The numbers used are conservative estimates, but there is simply no way to make the corn or soybean numbers look frighting.