Sorghum Little has been said about the sorghum crop in Argentina, but it is having a very particular year. The 2023 crop produced 2.5 MMT according to the Buenos Aires Grain Exchange on 845,000 hectares of harvested land. This is far below the nearly-3.5 MMT harvested in 2020/21 and 2021/22 but above the 2.25 MMT of the average of the last five years.
Given the smaller crop, the government defined a maximum export quota for sorghum of 950 KMT, but exporters only requested export permits for 660 KMT. They have not even managed to cover this volume in the local market, however, and have only purchased 460 KMT.
The market for Argentina’s sorghum is purely and exclusively China. In the FOB market there are practically n...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
