U.S. sorghum appears set to bring in the most valuable sorghum crop in history this fall if predictions from the U.S. Department of Agriculture’s (USDA) World Agricultural Supply and Demand Estimates report hold true, reports the Texas Farm Bureau.
USDA expects the 2021 U.S. sorghum crop to yield about 427 million bushels.
While that is not a large crop by historic standards, the total value of the crop would be the largest ever if the projected price of $6.10/bushel comes to fruition, according to National Sorghum Producers
Demand, inflation and smaller crops in other parts of the world all contribute to the situation, National Sorghum Producer Executive Vice President John Duff said.
Tightening supplies in global corn and soybean balances have led to an increase in those commodity prices, as well as for sorghum. Duff noted soybean prices are at a high not seen since 2012, when a vast majority of the U.S. was gripped by drought.
Demand is strong right now, with Duff calling China’s grain purchases “nothing short of spectacular.”
