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Northern NSW sorghum prices are firm at about $390/t on-farm, with some growers getting up to $440/t for Sorghum 1 delivered Newcastle. Strong Chinese demand, linked to tight domestic feed grain supply and baijiu production, is supporting the market.
An estimated 58% fall in US sorghum output is also adding support.
Lower US sorghum output and firm Chinese buying tighten global supply and keep Australian sorghum export values high, which supports feed costs for buyers.
theland.com.auSimon Chamberlain, Jamie BrownApr 26, 2023Not 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.
