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Greg Ruehle of the National Sorghum Producers says prices for grain commodities, including sorghum, have softened over the past six or seven weeks. He cited a strong basis of plus $2.10 on the last China-bound sorghum boat loaded in late July after the South Texas harvest.
Softer cash and export basis signals ample near-term sorghum supply and weaker prices for buyers in the Texas and High Plains region, while strong export basis earlier shows China demand supporting the crop.
sfntoday.comMike DavisSep 2, 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.
