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Argentine sorghum prices rose about 12% in one month to 250,000 pesos per tonne, outpacing a 6% rise in corn. The recovery is attributed to Chinese purchases, and Argentina shipped 1.4 million tonnes of sorghum to China in the last campaign, more than the 1.03 million tonnes from the US.
Chinese demand is steering sorghum flows toward Argentina and supporting its export prices. Other origins could face more competition for China's feed grain purchases.
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.