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Australian feedgrain prices rallied, with prompt sorghum up by as much as $25/t in the past week and northern wheat up $5-10/t, while barley held firm. Buyers are waiting for Victorian grain and first new-crop vessels with SA and WA wheat and barley due in Brisbane and Newcastle late next month.
Wheat on the Darling Downs traded at $425-430/t for November-December delivery amid strong demand and short positions.
Tight nearby supplies in northern Australia and delayed new-crop arrivals keep feed grain prices elevated for buyers until southern volumes reach market. Bushfire disruption to transport in south-east Queensland and northern NSW is adding to near-term premium pressure.
graincentral.comLiz WellsNov 14, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
