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USDA's Prospective Plantings report projects US sorghum acres up 11% to 5.82 million in 2020. Export commitments reached 122.9 million bushels as of April 20, with China a key buyer.
Strong export demand and better relative returns point to firmer sorghum prices and larger planted area, which could tighten feed grain supply for buyers later in the year.
dtnpf.comMatthew Wilde, Crops EditorJun 1, 2020Not enough comparable past events yet for a historical read.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
