# Supporting Sorghum Prices in the 2023/24 Season: Exports and Basis

> 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.

- Date: 2023-09-11 · published 2023-09-11T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/34154-supporting-sorghum-prices-in-the-2023-24-season-exports-and-basis
- Commodities: [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

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.

## Read by commodity

- CORN: neutral
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-09-12 | [Robust Sorghum Demand and Exports Expected to Bolster Prices in 2023-24 - AgWeb](https://feedsoft.ai/events/34158-robust-sorghum-demand-and-exports-expected-to-bolster-prices-in-2023-24-agweb.md) | -8.6% | -6.6% |
| CORN | 2024-03-18 | [Prospects for Sorghum Premiums in the Upcoming Season: A Forecast Analysis - Oklahoma Farm Report](https://feedsoft.ai/events/31256-prospects-for-sorghum-premiums-in-the-upcoming-season-a-forecast-analysis.md) | +0.4% | -6.3% |
| CORN | 2025-12-03 | [Barley Export Prices in Ukraine Surge Amid Limited Supply](https://feedsoft.ai/events/12531-barley-export-prices-in-ukraine-surge-amid-limited-supply.md) | +0.7% | -0.4% |
| CORN | 2021-03-18 | [Chinese Imports of Sorghum, Driving U.S. Prices Higher -](https://feedsoft.ai/events/48165-chinese-imports-of-sorghum-driving-u-s-prices-higher.md) | +10.8% | +13.2% |
| CORN | 2022-09-20 | [FEATURE - Australian sorghum exports gain - as rival US prices bounce - Grain Price News](https://feedsoft.ai/events/39636-feature-australian-sorghum-exports-gain-as-rival-us-prices-bounce-grain-price.md) | -2.5% | +2.4% |

## Sources

- southernagtoday.org: https://southernagtoday.org/2023/09/11/supporting-sorghum-prices-in-the-2023-24-season-exports-and-basis/

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