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Perdue: Ag Markets Sensitive

(Chris Clayton – Progressive Farmer)

The quick decline in cash grain sorghum prices was highlighted by Agriculture Secretary Sonny Perdue on Tuesday as he pointed out the sensitivity of commodities to trade news right now.

Reflecting a little tit-for-tat with the U.S., the Chinese Ministry of Commerce announced Sunday it was conducting an anti-dumping investigation into U.S. sorghum exports to China. The decision came after the Trump administration placed tariffs on washing machines and solar panels, affecting exports from China to the U.S.

While some DTN cash grain bids moved little from Friday to Monday, some spot sorghum (milo) prices across the Plains dropped as much as 88 cents from Friday’s close to Monday.

Perdue said he thinks the sorghum situation will mollify over time, but he said it reflects the sensitivity to bad trade news. Click here to read more.

Related: What Could China Do In a U.S. Trade War? (BBC)