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Queensland received heavy rain after a dry January, and Chinese buyers returned to the market and lifted sorghum offers. Values rose about $10 per tonne week on week, and buyers remained willing to pay higher prices.
Growers view the rain as a foundation for winter crop plantings.
Renewed Chinese demand supports Australian sorghum prices, while rain improves the outlook for winter crops and could ease future supply concerns.
graincentral.comGuest AuthorMar 6, 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.
