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The USDA cut its 2022 US sorghum production forecast by 34 million bushels to 252.1 million, with yield lowered 7.2 bushels to 46 per acre due to drought. Kansas, the largest producing state, saw its estimate cut sharply.
A sharply smaller US crop, down about 44% year on year, tightens sorghum supplies and supports prices and substitution demand for feed grains.
brownfieldagnews.comSep 13, 2022Not enough comparable past events yet for a historical read.
After 770 past neutral report 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.
