# National Sorghum Producers Predicts More Acres than USDA Estimate | KQLX

> National Sorghum Producers says that the USDA Prospective Plantings report shows an 11% rise in sorghum acres for 2020, but that greater gains are possible. Chinese purchases approaching one million metric tons over seven weeks have lifted basis, and export sorghum now commands a 13% premium. New crop basis has gained $0.20 to $0.40 at interior elevators over two weeks.

- Date: 2020-04-02 · published 2020-04-02T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/53719-national-sorghum-producers-predicts-more-acres-than-usda-estimate-kqlx
- Commodities: [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

Basis gains driven by export demand give farmers an incentive to plant more sorghum, which could add supply later. In the near term, firm basis supports sorghum prices against corn.

## Read by commodity

- SORGHUM: bullish ▲

## Sources

- agnews890.com: https://www.agnews890.com/2020/04/02/national-sorghum-producers-predicts-more-acres-than-usda-estimate/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.