China removed the import duties on U.S. sorghum last week, and that gave the corn market a real lift. It has been importing U.S. sorghum since the flap over the unapproved Syngenta corn hybrid started several years ago. While the removal of these duties was important to the market from a psychological standpoint, there should not be too much read into it from a purely fundamental standpoint for the following reasons:
The U.S. sorghum crop is very small. Production totaled 364 million bushels (9.2 MMT) in 2017 and is forecast at 343 million bushels (8.7 MMT) this year compared with corn production of 335 MMT. U.S. sorghum export sales to China for this marketing year total 4.5 MMT with 4.3 MMT of that already shipped. Nevertheless, China...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
