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Texas sorghum acreage is expected to rise in 2023, with USDA projecting around 6.5 million acres early. Producers cite strong basis and tight farmer-held supplies, with ethanol companies buying sorghum.
Expected acreage gains would add future supply, but current tight farmer-held stocks and strong milo basis keep near-term sorghum prices supported.
farmprogress.comRon SmithMar 20, 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.
