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Queensland sorghum growers are concerned that persistent rain has caused grain to sprout and mould on ripe crops. Downgrades of $50 to $100/t on bids near $325/t ex-farm could wipe $100 million to $200 million from the value of the crop.
The bulk of the crop remained unharvested and exposed to further wet weather.
Quality downgrades would reduce the supply of top-grade sorghum for export and feed buyers, supporting sorghum prices. Losses in value also tighten availability of feed-grade grain in the region.
queenslandcountrylife.com.auAlison PatersonApr 1, 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.
