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Kansas State analysis says the USDA raised its 2019/20 US grain sorghum price projection by $0.50 to $3.50 per bushel in the June 11 WASDE without changing the sorghum balance sheet. The increase reflects cross-over effects from sharply lower US corn production prospects.
A higher sorghum price outlook follows corn's tighter supply, so buyers should expect sorghum to trade with corn and absorb more feed demand.
ksugrains.wordpress.comksugrainsJun 14, 2019Not enough comparable past events yet for a historical read.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
