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Southern Australian feedgrain markets firmed as dry conditions slowed new-crop planting in parts of New South Wales and Victoria. Sorghum prices in the north fell to a level that attracted pig and poultry buyers as Chinese demand eased, and grower selling dropped to minimal levels.
Lower sorghum prices are drawing feed buyers back, and dry planting weather raises production risk for winter grains, supporting barley and wheat values for feed users.
beefcentral.comGuest AuthorMay 30, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
