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USDA lowered its 2023 US sorghum production estimate by 21.6 million bushels to 359.6 million, driven by a lower average yield of 57.4 bushels per acre. Ending stocks were modestly lower as reduced export and feed demand partly offset the production cut.
A smaller US crop tightens sorghum supply, supporting prices, though lower export and feed expectations limit the upside.
brownfieldagnews.comOct 12, 2023Not enough comparable past events yet for a historical read.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
