U.S. sorghum supply-and-demand estimates are unchanged for 2012-2013 and 2013-2014. The 2013-2014 forecast remains reflective of significant increases in planted and harvest area as well as yields, compared with 2012-2013 estimates.
The June 11 USDA Weekly Weather and Crop Bulletin indicates that sorghum planting was limited in early May due to cool weather and wet fields in portions of the Great Plains. By mid-May, planting was underway but behind the 5-year average in Kansas. Fieldwork conditions improved in other sorghum-producing regions, however, planting progress across the U.S. continued to fall behind the 5-year pace.
Planting in Texas was essentially complete by the end of May and at the time of the June 2 NASS Crop Progress report, 52 percent of the sorghum crop had been planted, 23 points behind last year’s pace and 8 points behind the 5-year average.
The June 10 Crop Progressreport indicates that Kansas growers were able to capitalize on the 4.3 days suitable for field work in the previous 7-day period and planted 26 percent of their crop in the span of a week.
Kansas, the largest sorghumproducing State, is still slightly behind pace with 54 percent of the crop planted, compared with the 5-year average of 60 percent. Planting in Texas, at 87 percent complete, is essentially on par with the 5-year average.
The June 10 Crop Progress report indicates that 69 percent of the sorghum crop is in the ground; this compares with the 5-year average of 72 percent. Continued mild weather in Kansas will assist growers there to complete their sorghum planting. Despite observed lags in planting, at this time, sorghum acreage and yields are not expected to diminish. Subsequently, production, exports, imports, and other supplyand-demand categories remain unchanged this month.
Recent increases in corn prices have pushed the sorghum season-average price forecasts for 2012-2013 and 2013-2014 slightly higher. The midpoint price for 2012/13 is raised $0.05 to $6.90 per bushel; the lower and higher end of the range are raised by a similar amount to $6.70 to $7.10 per bushel.
The 2013/14 price is also increased as recent market developments suggest a slightly higher price. The range is raised $0.10 per bushel on each end to $4.00 to $4.80 per bushel with a midpoint of $4.40 per bushel.