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The USDA cut its 2023 US sorghum production estimate 10% to 321.82 million bushels, after yields were lowered six bushels to 51.4 bushels per acre. Production is still 71% above 2022, and the cut reduced projected ending stocks.
A smaller US crop and lower ending stocks tighten the sorghum balance sheet and support prices for feed buyers.
brownfieldagnews.comadminNov 9, 2023Not 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.
