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Australian sorghum is recovering from a poor 2016/17 season that saw prices hit historic lows and heat-damaged quality cut national output below 1 MMT. New-crop 2017/18 harvest-slot prices have risen steadily to around AUD 290-300/t, and cotton's pullback is expected to shift more acres into sorghum.
Firmer new-crop sorghum prices and expected acreage increases point to a larger supply for the 2018 season, which could temper prices later. Buyers should watch planting intentions against current price levels.
graincentral.comJames NasonJul 11, 2017Not 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.
