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Fifteen percent of US sorghum was planted by April 18, and farmers are increasing acres. China booked a record 40 million bushels of new-crop and old-crop sorghum, well above its previous record.
Old-crop sorghum is also shipping out of US ports at record pace.
Record Chinese demand and rising acreage support sorghum prices and may shift some acres away from corn. Strong export sales tighten sorghum supplies for feed buyers.
dtnpf.comMatthew WildeApr 20, 2021Not enough comparable past events yet for a historical read.
After 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
