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USDA cut its 2019 US sorghum production estimate to 351.6 million bushels, down 1% from August and 4% below 2018. Harvested area fell, partly offset by a higher average yield, and 2019/20 ending stocks were lowered by 8 million bushels to 46 million.
A smaller US crop and tighter ending stocks support sorghum prices and could firm feed-grain substitution demand. The effect is moderate because the farm price forecast is steady.
brownfieldagnews.comSep 13, 2019Not 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.
