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A Farm Progress sorghum column says old-crop sorghum basis across the High Plains ranges from $0.08 to $0.60 over nearby futures, stronger than the past three years. New-crop bids are also historically firm, with some fall 2022 delivery opportunities.
The strength is attributed to demand, especially from China.
Strong basis and firm new-crop bids support sorghum prices and encourage acreage, which tightens sorghum supply for feed buyers. Sorghum's competitive pricing against corn is a factor in feed ration decisions.
farmprogress.comJohn DuffJan 10, 2022Not 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.
