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U.S. Sorghum Sales Shatter Previous Records
USAgNet - 04/16/2021

U.S. Department of Agriculture data shows U.S. sorghum exports the previous week were a record breaking 33.9 million bushels, topping the previous record by more than 10 million bushels, which took place in August 2020. The top destination was China.

In addition to record-breaking exports, new sales commitments were 33.8 million bushels, predominantly purchased by China.

The previous record for weekly sorghum sales was 32 million bushels, also in August 2020.

"U.S. sorghum exports continue to signal very strong demand for our crop, and new purchases at this level only reaffirm that," National Sorghum Producers CEO Tim Lust said. "The size of shipments reported this last week is equivalent to the size of approximately 10-12 Panamax vessels."

New crop purchases of U.S. sorghum for this point in marketing year are also at a record level, reaching 40 million bushels this past week -- 264% increase from the previous record set in 2014.

These new crop purchases are significant, particularly in the wake of a + $5 Dec 2021 Chicago Board of Trade price.


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