Early Season New-Crop Sales Continue to Impress
By Veronica Nigh
American Farm Bureau Federation
Back in August, we wrote about new-crop sales of soybeans, corn, sorghum and cotton to China. In the six weeks since then, sales of these crops have continued to turn heads. Large sales combined with decreased production estimates in the September World Agricultural Supply and Demand Estimates report have put upward pressure on futures prices and increased growers’ optimism. It’s time to look again at 2020/21 crop sales to China in relation to previous years. Here we compare new-crop outstanding sales plus accumulated exports (2020/21 marketing year) to the same period from the last five years.