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USDA FAS reports that China's tariff exclusions after the Phase One agreement sharply boosted U.S. sorghum purchases, with about three-quarters of U.S. commitments slated for China. Sorghum prices rallied to $229 per ton in June, the highest since July 2015, and were near $215 per ton currently, tracking corn.
Heavy Chinese demand tightens U.S. sorghum supplies and supports prices, which typically follow corn; feed buyers should expect firm sorghum values while corn remains elevated.
fas.usda.govJul 28, 2020Not enough comparable past events yet for a historical read.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
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.
