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Bids for sorghum in the Gulf of Mexico have nearly disappeared after China's tariff decision, according to Scoular. Sorghum prices must fall relative to corn to attract domestic and international buyers, and Mexico is a possible destination.
With Gulf bids gone, sorghum must reprice below corn to clear, which is bearish for US sorghum and lowers feed costs for buyers who can substitute it. Mexico is the main alternative outlet.
agrimarketing.comApr 24, 2018Not enough comparable past events yet for a historical read.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
