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Australian grain cash markets have been subdued and refusing to follow firmer offshore futures, which have been driven by headlines on Middle East conflict, Russia/Ukraine, northern hemisphere weather, and interest rates. Growers are focused on sowing and summer crop harvest, slowing farmer selling, while the sorghum harvest faces weather delays and quality concerns including sprouting.
Reduced farmer liquidity alongside steady trade and consumer bidding keeps domestic Australian grain prices firm, while sorghum quality issues could tighten usable feed supply.
theland.com.auJames Massina, Awb CargillMay 7, 2024Not enough comparable past events yet for a historical read.
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.
