Loading…
The American Farm Bureau says USDA projects sorghum planted area rising to 6.7 million acres in 2018, up 17 percent. Chinese demand is the main driver, with sorghum exports projected at 370 million bushels for 2017/18, mostly to China.
China's corn trait approvals and tariff-rate quotas have pushed its buyers toward U.S. sorghum.
Sustained Chinese purchases underpin U.S. sorghum prices and acreage, while rising sorghum imports displace some U.S. corn exports to China. Trade policy changes in China are the key risk to this demand.
fb.orgJohn Newton, Ph.D.Dec 4, 2017Not 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.
