Sorghum exports–and prices–are booming
October 12, 2020 By Ken Anderson Filed Under: Crops, Crops, News
Chinese purchases of U.S. soybeans and corn grab all the headlines, but sorghum sales to China are booming as well.
John Duff with National Sorghum Producers says, only one month into the current marketing year, total sorghum exports are already more than 115 million bushels.
“The projection in WASDE right now is that we’re going to export 260 million bushels of this marketing year’s crop,” Duff says, “and so we’re 44 percent of the way to that target just a month into the marketing year.”
And Duff says sorghum prices have responded nicely.
“We’re seeing strength like, frankly, we’ve never seen before. There are farmers selling sorghum across the scales for, certainly, $4.50 a bushel plus—and in some cases, approaching $5.00.”
Duff says there are also bids for sorghum marketed in the 2021-22 marketing year of more than $4.20/bushel, with anecdotal reports of bids approaching $5.00/bushel.
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