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Sorghum prices in Australia rose sharply in the past week as wash-outs, where sellers pay buyers the contract value instead of delivering grain, drove a rally. Dry conditions have left many growers with little or no sorghum crop for the March-April delivery slot.
Wheat and barley prices also firmed by up to A$10/t on limited grower selling and early export sales.
A likely tiny sorghum crop in southern Queensland and northern New South Wales tightens feed grain supply and supports prices for sorghum, with spillover support to wheat and barley as substitutes.
graincentral.comGuest AuthorDec 19, 2019Not 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.
Not 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.
