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US sorghum export prices in New Orleans jumped 17.2% in two weeks to $400.60 per tonne, widening their premium over US Gulf corn to $75.60 per tonne, the highest in 13 months. The move reflects poor US sorghum crop prospects amid severe drought in the central and southern Plains.
A tighter US sorghum supply and wider premium over corn should favor Australian sorghum exports as buyers shift to the cheaper origin, supporting sorghum and corn-substitute feed prices.
grainpricenews.comMike VerdinSep 20, 2022Not 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.
