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Sorghum values in Australia have climbed $20 to $25 a tonne over the past month, and wheat values have also firmed on drier weather outlooks. The Bureau of Meteorology is leaning toward a drier autumn for much of the country, with the chance of NSW exceeding median rainfall below 50 percent through June.
A drier outlook for the Australian winter crop season supports local grain prices and tightens near-term feed grain availability for buyers in the region. Sorghum's firmer tone reflects supply concerns that could persist into sowing.
theland.com.auJames MassinaFeb 28, 2023Not 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.
