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China purchased 4.8 million bushels of U.S. sorghum in the latest week. USDA raised its 2020/21 sorghum export projection by 15 million bushels to 275 million bushels in the WASDE, and exports have reached 65% of that projection.
Stronger export demand and a higher USDA export forecast reduce available U.S. supply and support sorghum prices, while Gulf basis strength makes sorghum more competitive with corn.
newsdakota.comDec 14, 2020Not 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.
