While it is normal for US sorghum prices to follow corn markets, the strength of global sorghum markets currently has US Department of Agriculture’s farm price estimates for sorghum slightly higher than those of corn in 2010/2011.
Although sorghum acres have moved lower over the last decade, US sorghum exports have remained stable, making exports a more important component of sorghum prices overall, according to Erick Erickson, US Grains Council special assistant for planning, evaluation and projects.
“Sustaining exports is critical to sustaining sorghum prices,” he said. “Additional support from Council members like the United Sorghum Checkoff Program allowed us to support key markets in Mexico and Japan, but also bring along emerging markets in Morocco and Egypt.” Read more ...
This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine from Perendale Publishers.
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