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A vessel carrying 69,842 tonnes of US sorghum switched destinations from China to Dammam, Saudi Arabia. Three cargoes were sold to Saudi Arabia at $190 a ton delivered.
Redirecting cargoes to Saudi Arabia shows US sorghum can find alternative buyers, but only at a discount to prior Chinese business. Delivered prices indicate the reduced value of US export sales.
reuters.comApr 24, 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.
