# Australia: BSGI news lifts thin southern market

> Russia's withdrawal from the Black Sea Grain Initiative has shifted the Australian grain market to bullish, with exporters raising elevator margin expectations. Feedlot demand in eastern Australia is building as operators recommission on-farm set-ups, and conditions in north-west New South Wales remain too dry for planting.

- Date: 2023-07-21 · published 2023-07-21T12:00:00.000Z
- Category: geopolitics · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/35109-australia-bsgi-news-lifts-thin-southern-market
- Commodities: [Barley](https://feedsoft.ai/c/BARLEY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

Expected loss of Ukrainian exports supports global grain bids, and strong Australian feedlot demand firms local feed grain prices.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-07-20 | [Black Sea conflict boosts wheat prices in Southeast Asia, Australia \| S&P Global](https://feedsoft.ai/events/35106-black-sea-conflict-boosts-wheat-prices-in-southeast-asia-australia-s-and-p.md) | -0.7% | -1.3% |
| WHEAT | 2022-03-29 | [Brazil hopes to be the corn market saviour - Grain Central](https://feedsoft.ai/events/13736-brazil-hopes-to-be-the-corn-market-saviour-grain-central.md) | -9.0% | -3.6% |
| WHEAT | 2026-09-02 | [Australian farmers: Black Sea war offers wheat market opportunity \| Farm Online \| ACT](https://feedsoft.ai/events/17450-australian-farmers-black-sea-war-offers-wheat-market-opportunity-farm-online-act.md) | +1.0% | +0.0% |
| WHEAT | 2022-02-26 | [Russia-Ukraine conflict could add pressure to Australia's 'skyrocketing' farm costs - ABC News](https://feedsoft.ai/events/43023-russia-ukraine-conflict-could-add-pressure-to-australia-s-skyrocketing-farm.md) | +12.1% | +26.0% |
| WHEAT | 2022-03-18 | [The Commodity Boom Thunders Through Feed And Dairy Markets - EDairy News English](https://feedsoft.ai/events/42418-the-commodity-boom-thunders-through-feed-and-dairy-markets-edairy-news-english.md) | +14.9% | +5.2% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/australia-bsgi-news-lifts-thin-southern-market/

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