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U.S. sorghum exports to China have fallen 97% from last year, as Chinese buyers shifted to Australia and Brazil. High Plains prices have dropped below $3 per bushel, and some bids have reached $2.35.
With China absent and harvest about a quarter larger, the surplus pressures U.S. sorghum basis and cash bids, with prices sitting below cost of production.
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.