Posted on Jul 18, 2014
LUBBOCK, Texas – China continues to buy U.S. sorghum, making their largest weekly purchase since entering the market with 11.5 million bushels for the 2013/2014 marketing year and 3.5 million bushels for 2014/2015, according to the USDA Foreign Agricultural Service’s July 17 report.
To date, China has purchased a total of 161.9 million bushels of U.S. grain sorghum for the current marketing year, which ends Aug. 31, 2014, bringing total exports to 186.4 million bushels. China represents 87 percent of the total U.S. sorghum exports in 2013/2014.
“Export sales are critical in maintaining and building demand,” said Florentino Lopez, executive director of the Sorghum Checkoff. “These impressive export sales have led to improved basis, providing farmers with added marketing opportunities. Our mission as a checkoff is to help build farmer profitability and enhance the sorghum industry. International markets play a major role in achieving this mission.”
China is also buying new crop U.S. Sorghum, with total purchases reaching 22.4 million bushels for next marketing year starting Sept. 1.
Lopez said China has purchased approximately 42 percent of the 2013/2014 U.S. sorghum crop.
Meanwhile, Germany made their first purchase of U.S. sorghum this week since 2008 with 2.3 million bushels for 2013/2014 and 2.3 million bushels for 2014/2015.
“This kind of purchasing activity shows the strengthening of sorghum industry,” Lopez said. “Both the new and returning international customers of U.S. sorghum, as well as the consistent buyers like Mexico and Japan, create positive market opportunities for farmers.”