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Export interest in Australian ASW wheat has risen as Asian buyers and traders worry about moving Black Sea and European wheat through the Red Sea, where Houthi attacks disrupt container traffic. Domestic feedgrain demand is weak, and sorghum has dropped to about $25/t below wheat, prompting poultry interest.
Red Sea disruption is supporting Australian wheat export demand, while sorghum's wide discount to wheat and barley may attract feed users.
ukragroconsult.comJan 26, 2024After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.
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.
