No Bull | The Five Spot
1 | Change
Over the past 100 years, U.S. #corn production has increased more than 700% while planted area has decreased 10%. Incredible!
Perhaps the Department of Energy, Argonne, CARB, and the Department of the Treasury should take note as U.S. corn ethanol gets a 20-point ding for 'land use change'..
The only change I see is a 700% increase in production…
2 | Nope.
3 | Perspective
Unconventional but impactful.
4 | Fun facts…
Corn stocks-to-use among the four major world exporters sits at 9.4% for 2024/25. Strip out U.S. stocks and that number drops to 3% - the lowest stocks-to-use in Brazil + Argy + Ukraine combined since the 1980s.
5 | Meanwhile
Looks like 2025 is currently screaming, “I don't want your soybeans!”
For the full version of this update, visit NoBullAg.Substack.com.
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