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USDA data showed US sorghum exports of 33.9 million bushels in the prior week, a record, with China the top destination. New sales commitments of 33.8 million bushels were also a record, and new-crop purchases reached 40 million bushels.
Record Chinese purchases and record new-crop demand indicate tight sorghum availability, which supports prices and feed-grain substitution demand.
feedandgrain.comApr 15, 2021Not enough comparable past events yet for a historical read.
After 480 past neutral trade 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.
