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China made a record early purchase of U.S. new-crop grain sorghum, 342 days before the marketing year starts. Total new-crop bookings reached nearly 63 million bushels by early June, an all-time high.
Old-crop exports are also running at record pace.
Strong forward sales from China support sorghum prices and draw supply away from other feed grains.
dtnpf.comMatthew WildeAug 1, 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.
