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Sorghum prices reached records across the Sorghum Belt in 2020, with basis rising from around even in early spring to plus 200 by year end. Strong Chinese demand drove the gains as China's hog herd recovered from the 2018 illness, and China's 2021 coarse grain import needs could be double 2020's.
Chinese feed demand is pulling sorghum basis higher, which supports sorghum prices for feed buyers even after harvest, when prices usually fall.
ksgrainsorghum.orgMindy Wells, Maddy MeierFeb 24, 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.
