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The USDA raised its 2024 US sorghum production estimate 2.665 million bushels from September to 304.61 million bushels, on a yield of 57.7 bushels per acre. The agency also raised 2024/25 ending stocks by 8 million bushels to 30 million.
Production remains below 2023 due to lower planted area.
A larger crop and higher ending stocks add modest bearish pressure on sorghum prices, though the total is still below last year.
brownfieldagnews.comJohn PerkinsOct 11, 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.
