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USDA's Risk Management Agency set the 2024 sorghum crop insurance price election factor at 100.2% of the corn price, the highest ever and above corn for the first time. Simplifications were also made to the sorghum silage policy and irrigated double-crop insurance.
A higher insured sorghum price relative to corn encourages farmers to expand sorghum plantings, which could add supply over time and pressure sorghum relative to corn.
morningagclips.comBrittanyDec 6, 2023Not enough comparable past events yet for a historical read.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
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.
