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USDA raised its 2024 US sorghum production estimate 8% from August to 302 million bushels on a yield of 57.3 bu/acre. Harvested area is 5% below 2023 at 5.275 million acres, and new-crop ending stocks tightened on higher export demand.
Tighter projected ending stocks from stronger export demand support sorghum prices despite a larger crop, mainly benefiting feed buyers who rely on sorghum.
brownfieldagnews.comJohn PerkinsSep 12, 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.
