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ABARES' March crop report puts Australia's 2022/23 sorghum crop at 2.45 million tonnes, the fourth-highest on record, after a 14% yield decline offset an 8% rise in planted area. Most of the crop is expected to be exported rather than used domestically.
A large exportable Australian sorghum surplus adds competition in global feed grain markets, which is bearish for export prices.
mecardo.com.auAngus BrownMar 21, 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.
