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Sorghum prices in Australia have fallen by more than A$30 a tonne in recent weeks as recently planted crops flourish after storms. Markets are shifting from expectations of scarce supplies to pricing a sizable export surplus.
A larger expected Australian sorghum crop competing for export markets such as China is bearish for sorghum and likely weighs on feed grain alternatives like barley and wheat.
queenslandcountrylife.com.auLloyd George, Ag ScientiaDec 10, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
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.
