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The U.S. Grains Council and the U.S. Sorghum Checkoff held virtual meetings with five major Chinese sorghum importers to discuss recent purchases and the upcoming harvest outlook. The sessions were held in place of the usual in-person trade trip.
The Council says high and rising Chinese corn prices are driving sorghum import demand.
Reassuring buyers about supply and yields supports continued Chinese demand for US sorghum, which is a relevant factor for the fall export program. The meetings are promotional and add no new price shock.
grains.orgrwinkertAug 20, 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.
