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Economist discusses USDA’s grain sorghum adjustments

An ag economist says changes to grain sorghum estimates were the biggest surprise in USDA’s most recent supply and demand report.

University of Missouri’s Ben Brown says, “USDA acknowledged that grain sorghum exports are pretty weak, and that feed demand has been strong. They did lower exports of grain sorghum 70 million bushels and increased domestic feed use 50 million bushels.”

He tells Brownfield those are sizable adjustments. “A lot of that grain sorghum is competing with corn in the feed bunk. I think that sets up the corn market for the end of the month when we get the March 1 stocks report.”

The USDA’s next round of supply and demand estimates is out April 10th.

Brown made his comments on Brownfield’s Weekly Commodity Market Update, which can be viewed below.