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Australian sorghum plantings for this summer appear lower than last year, as growers switched to dryland cotton on high cotton prices. Seed sales of sorghum are reported well down across NSW and Queensland valleys.
Feedlots are unlikely to use much sorghum because wheat and barley are already contracted into rations.
Less area planted lowers future sorghum supply, but weak world grain prices and an expected exportable surplus limit the upside for feed buyers.
graincentral.comHenry WellsJan 17, 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.
