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Pro Farmer summarizes the South Ag Today analysis that US sorghum export sales are about 25% above the past two seasons and Gulf basis is $1 over December futures. It also notes USDA projects China's sorghum imports rising by 125.7 million bushels.
Rising Chinese import projections and firm basis support sorghum premiums over corn in 2023-24.
agweb.comSep 12, 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.
