The U.S. shipped 353,200 metric tons of sorghum – roughly 14 million bushels - to China from March 5-11, an extraordinarily high amount that helped push prices to $5 per bushel, according to the latest USDA trade data and an analysis by the National Sorghum Producers. The seven-day period was a record marketing year high for U.S. sorghum exports, all of which went to China.
Furthermore, China made commitments to buy another 289,200 metric tons in 2020-21, according to the USDA data.
The latest export sales commitments, if they are all shipped, would equal 82% of USDA’s forecast for sorghum exports in the entire 2020-21 marketing year, according to NSP.
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“Following continued record bids, the average farm price received was upwardly revised to $5.00/bu for sorghum. This remains the highest projected price at this time of year in nearly a decade,” the NSP said. “Basis remains high and steady in the interior, and on the Gulf, sorghum is trading at 137% of corn.”
