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Export sales of sorghum were strong in the week ending March 20, with China committing to buy 8 million bushels. Total commitments reached 14.4 million bushels, with a large share going to unknown destinations, likely also China.
Basis kept rising, with sorghum trading at a 13 percent premium to corn on the Gulf.
Concentrated Chinese demand is lifting sorghum basis and export values, supporting feed sorghum prices relative to corn.
hpj.comHPJ StaffMar 25, 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.
