Loading…
Southern Queensland sorghum bids have fallen $25 a tonne over five weeks to $340 delivered Brisbane, from about $365 in late May. Export demand is sluggish, and Australia's 2024 harvest of 2.2mt leaves a large export surplus.
Shipments since March are about half of last year's pace, mostly to China.
A large exportable surplus combined with weak buying from China keeps downward pressure on sorghum prices and undercuts feed grain values in the wider market.
queenslandcountrylife.com.auLloyd George, Ag ScientiaJul 14, 2024Not 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.
