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New-crop sorghum harvest began in southern Queensland, pushing Darling Downs sorghum bids down about $10 to $385 a tonne delivered. Exporters report softer buying from China, which takes most of Australia's sorghum exports, while US sorghum imports rise seasonally.
Rain has slowed the harvest.
Harvest pressure plus weaker Chinese demand keeps Australian sorghum discounted, giving feed buyers cheaper red grain versus wheat and barley.
queenslandcountrylife.com.auLloyd George, Ag ScientiaJan 28, 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.
