◂ Event Timeline

Sep 9, 2019WEATHERAustralia

Feedgrain Focus: Prices firm as thin crops turn to hay

Eastern Australian cereal crops are struggling after a tough spring start, with hay-cutting advancing on poor crops. Central Queensland wheat trades near $420/t delivered and sorghum around $305-$350/t, with prompt demand from feedlots and pig and poultry producers.

WHY IT MATTERS

Reduced grain tonnage from hay-cutting tightens prompt feedgrain supply in Australia, supporting local wheat and sorghum prices for feed buyers.

AFFECTSWheat (SRW)▲Sorghum▲

SOURCE
beefcentral.comGuest AuthorSep 9, 2019

Price reaction & history

Wheat (SRW)▲bullishSO FAR1d -1.2%5d -0.8%20d +4.6%

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.

Oct 2, 2020Feedgrain Focus: Price moves mixed in thin trade - Beef Central+1.9%
Jun 19, 2023Feedgrain Focus: Markets firm as dry north throttles sales - Beef Central+2.6%
Jul 26, 2018Feedgrain Focus: Prices rise as dry conditions add fuel to fire - Grain Central-1.5%
Aug 30, 2019Feedgrain Focus: Trade slows as crunch nears for borderline crops - Beef Central-2.8%
May 30, 2023Feedgrain Focus: Sorghum drops into sights, season turns dry - Beef Central-4.0%

Sorghum▲bullish

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.

Wheat (SRW) WHEAT · GP ▸

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Sorghum SORGHUM · GP ▸

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