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Sudan's locally grown sorghum and millet prices are declining seasonally with the 2019 harvest, while imported wheat prices have risen. Cereal prices remain at or near record levels, with October 2019 feterita and millet prices several times their October 2017 levels.
The weak currency and fuel shortages are inflating costs.
Sudan's domestic sorghum shortfall and currency-driven import demand for wheat keep import needs elevated, though the harvest is easing local prices. The effect on world feed grain prices is marginal given Sudan's small role in global trade.
dabangasudan.orgDabangaNov 22, 2019Not enough comparable past events yet for a historical read.
After 57 past bullish macro events, Wheat (SRW) moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% 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.
