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National Sorghum Producers reported that U.S. sorghum export commitments reached 58 million bushels two months into the 2016/17 marketing year, about 20% of USDA's export projection. China has committed 40 million bushels, 70% of total sorghum exports, with Mexico and Japan following.
The group also submitted comments on the biotech regulatory framework.
Heavy Chinese commitments to U.S. sorghum create a supportive export base and tighten available supply for the crop. Concentration in one buyer adds demand-side risk.
sorghumgrowers.comsorghumNov 3, 2016Not 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.
