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The USDA left its sorghum balance sheet nearly unchanged from January, with ending stocks steady at 25 million bushels. The average farm price was raised by 5 cents to $6.90 per bushel, and exports were trimmed because of reduced Chinese demand.
Steady ending stocks and a higher farm price signal firm US sorghum values, while lower export expectations weigh on demand from China, the main buyer. Feed buyers should expect the price to remain supported near current levels.
brownfieldagnews.comFeb 8, 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.
