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USDA projects Texas grain sorghum plantings of 1.35 million acres in 2019, down 13% from 2018, with ideal growing conditions across most of the state. Agronomist Calvin Trostle attributed part of the decline to the China trade dispute, which could cut up to $1 per bushel from domestic prices.
Smaller sorghum acreage would tighten supply later in the year, but the China dispute continues to weigh on expected prices. Net effect is bearish-leaning for sorghum values until trade resolves.
texasfarmbureau.orgJulie TomascikMay 15, 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.
