Over the past week we have seen another heat wave develop over key sorghum growing areas in NSW and QLD. As such, sorghum markets have responded accordingly. Both track and delivered markets have rallied over the past week.
With this in mind, it is critical to consider our consumption requirements. If you combine domestic consumption with inelastic export demand, there is approximately one million metric tonnes (mmt) accounted for, but with a large sorghum plant and many trade estimates still toward the 2mmt mark, we may see a surplus.
Current market values, as at 24 January 2018:
Sor1 Delivered Downs Mar/Apr @ $277
Sor1 Track Bris Mar/Apr @ $288
Sor1 Track NTL Apr/May @ $288
Please note, all prices are correct at time of writing and are subject to change.
For further information, please contact us on 1300 281 228.