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USDA export data showed US sorghum sales to China of almost 32 million bushels for the week, the largest week on record and above the 23 million bushel record set in December 2014. Shipments to China reached a seven-day marketing-year high of 479,200 tonnes.
New-crop sales were also reported as the highest on record.
Record new-crop sales to China commit a large share of the US sorghum crop before harvest, supporting prices and basis. Expanding export demand is likely to keep sorghum competitive with corn in US acreage decisions.
sorghumgrowers.comsorghumAug 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.
