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A U.S. sorghum cargo bound for Gran Canaria is at sea after being diverted from China, and it is one of almost two dozen cargoes stranded at sea by the move. Importers in China are offering grain at steep discounts to buyers elsewhere.
Stranded U.S. sorghum cargoes and discounted resale in China add supply pressure and widen the basis, which is bearish for U.S. sorghum prices.
reuters.comJosephine MasonApr 26, 2018Not 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.
