March position report showing current supply as 1.35b pounds however that is based on a theoretical reject rate of 2% when the current rate is 4.22% with the forecast carryout being 625m pounds.
If the shipments for the remaining 4 months of the crop year are the same as last year then the carryout will be around 530m pounds, well down on the 800.3m pounds last year.
USA Report, page-250
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