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USDA raised its September sorghum production estimate to 454.3 million bushels, up 44.9 million from August, after planted area rose 13% to 7.34 million acres. Ending stocks are projected at 32 million bushels and the average farm price at $5.85 per bushel.
A much larger crop with only modest stock build leaves ample supply for feed buyers, which is bearish for sorghum prices and a partial substitute for corn in feed rations.
brownfieldagnews.comSep 13, 2021Not 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.
