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USDA projects US 2022/23 sorghum production down 58%, with the lowest yield since 1960 due to drought in Kansas and Texas. US sorghum exports are forecast to fall 69%, while Chinese consumption drops 42%.
A sharp US sorghum supply shortfall and export decline tightens global sorghum availability, supporting prices and encouraging substitution toward corn.
tridge.comAgriMar 4, 2023Not enough comparable past events yet for a historical read.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
