Loading…
USDA's January report put 2020 U.S. sorghum for grain production at 372.96 million bushels, up 31.5 million on the year, on 615,000 more planted acres. USDA cut 2020/21 ending stocks by 2 million bushels to 28 million, and the average farm price was estimated at $4.70 per bushel, up from $4.40 in December.
Lower projected ending stocks and a higher farm price point to tighter sorghum supply despite the larger crop, which supports prices. Higher exports offset the bigger harvest in the balance sheet.
brownfieldagnews.comJan 13, 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.
