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Texas farmers plan to plant about 1.8 million acres of sorghum this year, 5% below last year. The Texas Sorghum Producers director said Chinese buying is strong and may outstrip supply, and yields are rising toward a possible crop above USDA's 245 million bushel estimate.
Lower acreage combined with strong Chinese demand and higher yields leaves a tight balance that supports sorghum prices.
texasfarmbureau.orgJulie TomascikApr 19, 2017Not 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.
