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National Sorghum Producers says U.S. sorghum acres could exceed USDA's 11% forecast, with plantings estimated at 5.82 million acres. Chinese purchases of nearly one million metric tons have shifted the supply-demand outlook, leaving the U.S. entering new crop with very low stocks.
Australia's poor crop has also left little export sorghum available.
Tight stocks and limited competing export supply support sorghum prices and export demand, while cotton acreage switching is the main variable for the final crop size.
brownfieldagnews.comApr 6, 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.
