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The US Grains Council rerouted US sorghum vessels that were headed to China after the 178.6% preliminary duty was announced on April 18. Buyers in Spain, Saudi Arabia and other markets took the cargoes at significantly discounted prices.
Re-routing cargoes at discounts shows that export demand has partly replaced China, but the lower prices reflect the cost of losing the Chinese outlet.
farmprogress.comMay 16, 2018Not 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.
