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US sorghum export sales remained strong, with China and Japan committing to 7.4 million bushels, bringing commitments to 188 million bushels or 72 percent of the USDA export target. Shipments reached 2.8 million bushels in the latest week, and Gulf FOB bids hit $5.16 per bushel, 126 percent of corn.
Strong export demand and a sorghum premium over corn pull US sorghum prices higher and support feed demand for sorghum relative to corn.
hpj.comHPJ StaffJan 26, 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.
