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USDA's Grain: World Markets and Trade report forecasts Australian sorghum exports of 1.4 million tonnes for the year to February 2022, with most going to China. Argentina's exports are forecast at 2.2 million tonnes, more than triple the prior year, while the US remains the top global exporter despite higher prices.
China is diversifying suppliers as a result.
Rising Australian and Argentine sorghum exports to China give buyers more supply options and dampen US price premiums. Competition from these origins can limit how far US sorghum prices can rise.
graincentral.comGrain CentralJan 14, 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.
