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Producers are holding more than 200 million bushels of unsold US sorghum after China's withdrawal from the market, and farmers are seeking buyers in sub-Saharan Africa. Sero Ag Strategies' John Duff says the current situation is worse than the 2018-2019 trade dispute.
Unsold stocks in the Plains keep cash bids weak, and the shift to new buyers such as Africa is unlikely to absorb volumes quickly enough to lift prices.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.