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USDA's June survey projects 2021 US sorghum planted area at 6.49 million acres, up 610,000 acres from 2020, with harvested area at 5.785 million acres. Growth is attributed to Chinese demand and sorghum's drought tolerance.
The next USDA production estimates are due July 12.
Larger US sorghum acreage points to bigger supplies, which is bearish for sorghum prices unless Chinese demand absorbs the increase.
brownfieldagnews.comJul 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.
