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USDA's Prospective Plantings report projects U.S. sorghum planted area at 6.91 million acres this season, more than 1 million above 2020's 5.88 million. Kansas, with 3.6 million acres expected, could see even more acreage as planting begins.
Higher sorghum acres add feed grain supply that competes with corn in rations, which may cap sorghum basis strength and modestly pressure feed grain prices later in the year.
agweb.comJun 24, 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.
