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A US Grains Council official said Chinese buyers have not purchased US sorghum for six weeks because it is priced above alternatives. Ukrainian feed barley is available at about $217 per metric ton versus about $375 for US sorghum.
He expects China to return to US sorghum eventually as it rotates through cheaper origins.
US sorghum faces a price disadvantage against Black Sea barley, which caps export demand until prices fall or competing supplies run out.
feedstrategy.comRoy GraberJul 15, 2021Not enough comparable past events yet for a historical read.
Not 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.
