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U.S. sorghum harvest is advancing, with USDA's September WASDE projecting 7.3 million planted acres, 6.5 million harvested, and 69.7 bushels per acre. At a national average price of $5.85 per bushel, the 2021 crop is valued at roughly $2.7 billion, a record.
Late heat and Texas Gulf Coast sprouting issues will keep national yield from setting a record.
Large acreage and strong yields point to ample U.S. sorghum supply, which tempers price upside even as the crop's total value is high for farmers buying feed.
feedstuffs.comJohn DuffOct 12, 2021Not 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.
