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Sorghum is trading about $50/t below feed wheat in Australia as traders watch for a large spring sorghum planting. Patchy rain over growing areas has left traders unsure of the direction of domestic feedgrain prices.
Darling Downs users may stick with wheat unless it exceeds $340/t for January delivery.
A sizeable sorghum crop would add supply to the Australian stockfeed market and cap wheat and barley prices, while a feed wheat rally could pull demand toward current-crop sorghum.
graincentral.comGuest AuthorOct 10, 2017Not enough comparable past events yet for a historical read.
Not 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.
