U.S. sorghum exports for the 2014/15 marketing year are projected to reach record-high volumes and are boosted by 50 million bushels this month to 350 million. The export forecast is raised despite lower-than-anticipated March 1 sorghum stocks, as reported in the March 31 Grain Stocks report. In Texas, where producers intend to expand sorghum plantings in 2015, a significant volume of new crop sorghum is expected to be mature, harvested, and available for shipment prior to the September 1 start of the new marketing year. This augmentation will relieve tight old-crop supplies and supports continued exports of sorghum to China in the June-August quarter. March 1 U.S. corn stocks were higher than expected; reducing projected feed and residual use by 50 million bushels for 2014/15; however, the projected season-average farm price for corn is unchanged at the midpoint of $3.70 per bushel.
This month, projected 2014/15 world coarse grain production, consumption, trade, and ending stocks are increased. Production and consumption are boosted dramatically for Sudan, accounting for much of the increase in global output and use. Argentina’s corn production and exports are also increased
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Source: USDA