Loading…
USDA projects principal crop plantings in the US falling about 4 million acres this year to the lowest level in roughly eight years. Texas cotton and sorghum acres are forecast down, with trade disputes with China cited as cutting Texas sorghum exports.
Lower planted acreage for sorghum and other crops tightens feed grain supply, but the China export loss pressures sorghum prices, with growers estimating about a dollar per bushel of pressure.
texasfarmbureau.orgJulie TomascikMay 6, 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.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
