Unlike corn, China does not impose a tariff rate quota on sorghum imports and now the Middle Kingdom is hoovering up all the sorghum that American farmers grow. The season-average price for sorghum is up 75 percent in two years and the U.S. area planted to sorghum has expanded by 38 percent. The average yield will drop from 73 bushels/acre to 69.7 as more marginal land is brought into production. As a result of increased production, the stocks to use ratio will increase this year but will still be less than that in 2019/20. While early indications of yield for this year’s corn crop may be disappointing, sorghum is more tolerant of the drier conditions this season and the crop looks good in key production areas. ...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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Illuminating the value of technical research
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