Collapsed Sorghum Prices Doesn't Mean China's Not Buying

April 24, 2017 01:08 PM
 
 

U.S. sorghum exports are continuing to be strong in China.

According to the National Sorghum Producers (NSP), China purchased 1.8 million bushels last week, bringing total commitments to 161 million bushels, which is nearly 72 percent of the USDA target for 2017.

“Because prices have collapsed, people say China must’ve quit buying sorghum,” said Tim Lust, CEO of NSP. “They haven’t. They’re still buying and on track to meet our expectations for exports again this year for over 50 percent of our industry.”

NSP says deliveries are strong to China, Japan, and Mexico, all ahead of the 5-year average needed to meet USDA’s forecast.

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