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The chairman of the National Sorghum Growers Association does not expect a major shift to sorghum acres despite drought in the Great Plains. Some acres may move to sorghum where moisture remains, and the crop could help rebuild forage hay stocks.
USDA projects US sorghum planted area down 6% to 6 million acres in 2023.
Drought-driven forage shortages could lift demand for sorghum hay and grain, but a projected 6% acreage drop keeps supply tight and supportive for prices.
brownfieldagnews.comApr 19, 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.
