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More than 90% of Nebraska is now in drought, and dry conditions are pushing farmers toward sorghum, a drought-tolerant crop. Nebraska sorghum acres rose 77 percent in 2021, helped by weather and strong markets.
Growers report good basis, more elevators accepting sorghum, and growing demand from China, Spain and pet food makers.
Drought in the plains raises sorghum's appeal as a crop, which can lift acreage and future supply. Strong demand and basis support prices, so the net effect on feed prices is mixed.
nebraska.tvSteve WhiteJan 28, 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.
