China Corn, USDA Export Projections vs. actual Projections too low, except for 1998

1
(No Transcript)
2
(No Transcript)
3
(No Transcript)
4
China Corn, USDA Export Projections vs.
actualProjections too low, except for 1998

• October March
  
• 2002-03 38 21 below actual
• 2001-02 55 65 below actual
• 2000-01 45 18 below actual
• 1999-00 50 20 below actual
• 1998-99 17 17 above actual
• 1997-98 58 17 below actual
• 1996-97 87 74 below actual

5
Inadequate data make China a hard Market to
project.
6
(No Transcript)