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Kansas farmers see improved 2021 prospects as grain sorghum prices have risen sharply since mid-August 2020. Kansas State's International Grains Program reports that 97% of the 74.8 million bushels of unshipped U.S. sorghum forward sales are to Chinese buyers.
USDA raised its export forecast to 290 million bushels for the current marketing year.
Chinese feed demand is pulling U.S. sorghum exports toward levels not seen since 2014/15, supporting cash and new-crop bids. Strong forward bids may encourage more sorghum acreage this spring, which could cap future price gains.
ksgrainsorghum.orgMindy Wells, Maddy MeierJan 19, 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.
