# USDA revises corn and sorghum forecasts for 2023/24 | Feed & Grain

> The USDA Economic Research Service's April 2024 Feed Outlook lowered US corn ending stocks for 2023/24 on a 25 million bushel increase in both ethanol and feed use. The season-average farm price for corn was cut by $0.05 to $4.70 per bushel. Sorghum feed and residual use was raised as exports rose.

- Date: 2024-04-16 · published 2024-04-16T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/30811-usda-revises-corn-and-sorghum-forecasts-for-2023-24-feed-and-grain
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

Tighter corn ending stocks from stronger domestic use support corn prices. Higher sorghum feed use and exports tighten sorghum supplies and support its price.

## Read by commodity

- CORN: bullish ▲
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-10-17 | [USDA forecasts rise in corn and sorghum exports amid global shortages \| Feed & Grain](https://feedsoft.ai/events/27919-usda-forecasts-rise-in-corn-and-sorghum-exports-amid-global-shortages-feed-and.md) | +2.1% | +2.9% |
| CORN | 2022-02-24 | [USDA cuts corn, raises soy and wheat acreage for 2022](https://feedsoft.ai/events/13389-usda-cuts-corn-raises-soy-and-wheat-acreage-for-2022.md) | +6.5% | +12.3% |
| CORN | 2024-12-10 | [USDA forecasts lower US wheat stocks, raises corn exports in latest WASDE report \| Feed & Grain](https://feedsoft.ai/events/26902-usda-forecasts-lower-us-wheat-stocks-raises-corn-exports-in-latest-wasde-report.md) | +1.6% | +2.9% |
| CORN | 2025-01-15 | [Corn production slashed, sorghum rises in latest USDA Feed Outlook \| Feed & Grain](https://feedsoft.ai/events/26568-corn-production-slashed-sorghum-rises-in-latest-usda-feed-outlook-feed-and-grain.md) | +2.0% | +2.6% |
| CORN | 2020-09-11 | [USDA Lowers Corn and Soybean Forecasts \| AgWired](https://feedsoft.ai/events/50974-usda-lowers-corn-and-soybean-forecasts-agwired.md) | +4.5% | +5.3% |

## Sources

- feedandgrain.com: https://www.feedandgrain.com/grain-supply-chain/grain-trade-export/news/15668705/usda-revises-corn-and-sorghum-forecasts-for-202324

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.