Sorghum Exports Close 2021 With Marketing-Year High Commitments And ShipmentsMon, 10 Jan 2022 10:53:42 CST
U.S. Department of Agriculture data issued December 16, 2021, showed U.S. sorghum new export sales commitments the previous week were a marketing-year high of 16.6 million bushels with the vast majority of the sales attributed to China. The sales reported the week of December 16 were up 27 percent from the previous week and up 57 percent from the prior four-week average. In addition to a marketing-year high in sorghum sales, 12.4 million bushels were shipped primarily to China, another marketing-year high, up considerably from the previous week and up 81 percent from the prior four-week average. Read the full release at SorghumGrowers.com.
Just shy of 900,000 bushels of sorghum were purchased by China last week, with 2.9 million bushels also shipped to China the last week of the calendar year. China has been consistently making large weekly purchases, and the slight dip this week can likely be attributed to the holiday season and are expected to pick up again after the Chinese New Year on Feb. 1. Last week's purchases bring total sorghum export purchases to 208 million bushels, or 65 percent what was estimated in the most recent USDA World Agricultural Supply and Demand Estimates (WASDE) just three months into the 2021/22 marketing year. Basis remained steady in the interior, and sorghum is trading at 117 percent of corn on the Gulf.
Sorghum Checkoff Releases Weekly Sorghum Basis Snapshot
The Sorghum Checkoff, with Southwest Agribusiness Consulting, released its weekly sorghum basis snapshot, available at SorghumCheckoff.com.
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