Loading…
US sorghum export sales over the past two months are running about 25% above the previous two seasons, and the Gulf Coast sorghum basis is $1 per bushel over December futures, 80 cents above last year. USDA's August WASDE projects 2023/24 US sorghum exports at 255 million bushels, a 155% increase on the prior season.
Stronger export demand, led by China, tightens US sorghum supplies and supports cash prices and basis despite a larger expected crop of 393 million bushels.
southernagtoday.orgFrancisco AbelloSep 11, 2023Not enough comparable past events yet for a historical read.
After 480 past neutral trade 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.
