March position report points to a slight pick up in late crop receipts with them still being down 12.4% compared to March last year.
Total shipments are up 6.85% vs last year. March was another record for shipments driven entirely by increased exports which were up 24% on last year.
With the strong shipments for the last 3 months the carryout is looking more and more likely to be below the 600m pound forecast.
USA Report, page-209
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