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ABARES estimated Queensland and New South Wales sorghum production at 1.3 million tonnes, down from about 2.2 million expected at planting after a hot, dry January and early February. Feedgrain values drifted lower as Western Australian grain arrived at several ports and world prices weakened.
A sharply smaller eastern sorghum crop would normally support local feed prices, but imported and western grain is capping values, so the net price pressure is mixed.
graincentral.comLiz WellsFeb 20, 2019Not 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.
