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The National Sorghum Producers CEO responded to the USDA Prospective Plantings report, saying recent weather across four states will likely push additional sorghum acres behind failed wheat and other crops. He cited rising demand and expected ending stocks-to-use down to 7.92 percent, with domestic and export buyers seeking sorghum at or above corn prices.
Tighter ending stocks and strong demand, combined with a possible acreage increase from failed wheat, point to a balanced-to-firm sorghum market; feed buyers should watch basis at export terminals and any shift in corn-sorghum spreads.
sorghumgrowers.comsorghumMar 31, 2017Not enough comparable past events yet for a historical read.
After 770 past neutral report 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.
