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Eastern Australian feedgrain cash markets diverged, with Victorian prices softening as planting progressed and drier summer-cropping regions firming. China was reportedly interested in buying Central Queensland sorghum and shying away from US grain amid the trade war.
Current-crop wheat in Melbourne was about A$350/t, with new-crop wheat near A$300/t.
Chinese demand for Australian sorghum and avoidance of US grain supports sorghum export prices, while dry sowing and weather point to a lower trend for wheat and barley.
beefcentral.comGuest AuthorMay 16, 2019
graincentral.comGuest AuthorMay 16, 2019After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
