Loading…
The USDA projects a larger U.S. sorghum crop of 409.4 million bushels, up 10% from last year, with yield at 70.8 bushels per acre. Producers have expanded acreage to meet export demand, especially from China.
The new-crop farm price estimate rose to $6.15 per bushel and ending stocks were raised slightly.
A bigger crop adds supply, but the higher farm price and strong China demand signal firm underlying sorghum values for feed buyers.
brownfieldagnews.comAug 13, 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.
