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Australia's 2022 sorghum crop is expected to exceed 2.5 million tonnes, the largest in 14 years. Prices are holding in the mid $290s a tonne delivered to the Darling Downs, and domestic feed buyers show little interest at current levels.
A crop this size would need a large export program, mainly to China.
A larger Australian crop adds export supply in a market where China is the main buyer, which tends to cap sorghum prices and makes it cheaper for feed users to substitute wheat or barley.
queenslandcountrylife.com.auLloyd GeorgeFeb 18, 2022Not 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.
