# US Department of Agriculture grain report hits Australian prices | The Land | NSW

> Recent Australian grain prices have been driven largely by revisions in the USDA report, which lowered global corn and wheat markets and pushed Australian prices down. Sorghum planting extended into late January, and the main sorghum harvest is expected in early March after ABARES forecast a sharp fall in production.

- Date: 2024-02-06 · published 2024-02-06T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/31626-us-department-of-agriculture-grain-report-hits-australian-prices-the-land-nsw
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

Lower global corn and wheat values from USDA revisions weigh on feed grain export prices, while the late sorghum crop and ABARES cut support sorghum values.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2016-07-18 | [Grain Supply and Demand report sends grain prices falling](https://feedsoft.ai/events/7417-grain-supply-and-demand-report-sends-grain-prices-falling.md) | +5.9% | +1.7% |
| CORN | 2025-01-10 | [Secretary Naig: “Strong Productivity Must be Met with Strong Market Demand” \| Iowa Department of Agriculture and Land Stewardship](https://feedsoft.ai/events/13120-secretary-naig-strong-productivity-must-be-met-with-strong-market-demand-iowa.md) | +3.2% | +5.6% |
| CORN | 2025-11-06 | [U.S. Grain Prices Drop Amid Federal Government Shutdown and Export Reporting Delays](https://feedsoft.ai/events/8215-u-s-grain-prices-drop-amid-federal-government-shutdown-and-export-reporting.md) | +0.9% | +2.6% |
| CORN | 2025-11-14 | [Grain Markets Tank Friday on USDA Reports: How Low Will Prices Go? - AgWeb](https://feedsoft.ai/events/21973-grain-markets-tank-friday-on-usda-reports-how-low-will-prices-go-agweb.md) | -0.8% | -0.3% |
| CORN | 2020-05-12 | [Optimism and ambiguity abound in the latest WASDE report - RealAgriculture](https://feedsoft.ai/events/53061-optimism-and-ambiguity-abound-in-the-latest-wasde-report-realagriculture.md) | +0.6% | +4.2% |
| WHEAT | 2022-02-28 | [ABARES forecasts value of Australian agriculture to hit $81b in 2021-22, a new record - ABC News](https://feedsoft.ai/events/42662-abares-forecasts-value-of-australian-agriculture-to-hit-81b-in-2021-22-a-new.md) | +12.1% | +26.0% |
| WHEAT | 2026-07-01 | [Australia: Grain and Feed Update \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/18302-australia-grain-and-feed-update-usda-foreign-agricultural-service.md) | -0.8% | +3.8% |
| WHEAT | 2021-09-17 | [Wheat prices soften ahead of harvest \| The Land \| NSW](https://feedsoft.ai/events/6382-wheat-prices-soften-ahead-of-harvest-the-land-nsw.md) | -3.8% | +3.6% |

## Sources

- theland.com.au: https://www.theland.com.au/story/8511322/us-department-of-agriculture-grain-report-hits-australian-prices/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.