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USDA raised its 2024 U.S. sorghum production estimate to 320.725 million bushels, up 16.1 million from October. The increase reflects a 3.1 bushel per acre yield gain to 60.8 bushels per acre, with harvested area unchanged.
Ending stocks rose slightly to 31 million bushels.
A larger U.S. sorghum crop adds supply that could weigh on sorghum prices, though higher feed use partly offsets the increase in ending stocks.
brownfieldagnews.comJohn PerkinsNov 8, 2024Not 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.
