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USDA reported record U.S. sorghum export sales of 32 million bushels in the week of August 6, surpassing the prior record of 23 million set in December 2014. Southern Chinese feed demand and Australia's poor 2020 sorghum crop drove the sales.
A record export week drains U.S. sorghum supplies and supports prices, while Australia's short crop widens the export opening for U.S. product.
tridge.comRajjun SahotaSep 3, 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.
