Sorghum shipments reach an all-time high

Shipments for the week reached an all-time high with China taking the delivery of 16.6 million bushels. Japan is also taking deliveries and these shipments bring total shipments for the marketing year up to 134.8 million bushels. We have already shipped approximately 55 percent of the projected export total for the marketing year. Texas Gulf bids are 110 percent of corn or $5.11 per bushel at the vessel. This does not reflect farmer price but instead is a representation of what exporters are willing to pay. This premium has declined over the last few weeks but remains in place as sorghum is being shipped at a rapid pace. Basis has also softened further north where central Kansas terminals are now bidding -50 for sorghum. However, corn bids are -45 so interior feed grain basis overall has softened.