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Strong Chinese demand is pushing U.S. sorghum cash prices higher, with average cash prices around $6.40/bu versus $5.90 for corn, a 50-cent premium. Sorghum was at $2.95/bu six months earlier, when it traded at a discount to corn.
China buys roughly 80-90% of its sorghum imports from the U.S., so its purchases tighten U.S. supply and support sorghum prices, which may also shift acreage toward sorghum and away from corn.
allagnews.comTony St. JamesMar 18, 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.
