US sorghum values found support from very good export numbers to China. All but 612t of total sales when to China. The US shipped 313,614 tonnes of sorghum for the week ending June 11th. 168,997 tonnes moving out of the Gulf ports, and 138,593 moving out of Pacific ports.
US sorghum is roughly valued at US$282 / tonne C&F China. Australian sorghum, working off grower bids, is roughly US$292. Once you take tariffs into account Australian sorghum is still about US$2.50/t more expensive than US sorghum.
With much of the Aussie sorghum crop now sold and shipped, it might be a good time to work out a rough value to budget on for the new crop. Possibly compare a summer crop on longer fallow to a late sown winter crop. The US corn crop will greatly influence the value of sorghum in the US. Currently there are no issues with the corn crop. Good rain has fallen across the major sorghum regions in recent weeks, but there are still a number of very dry counties. The market has a sideways feel to it. Which often indicates we’ll see our volatility from the AUD side of the equation. Early days though.

Super El Nino, Rain Bomb, how many extreme cliches have been penned in the last few years. I’m as over them as the next person. When you read the word, could, prior to the cliche, it just makes me turn the page even quicker. We COULD be heading to a SUPER EL NINO. Yeah, I could be heading to the pub for lunch too, but it’s 7.00am in the morning and there’s a lot that can happen before 1.00pm. El Nino years, often but not always, produce wetter seasons in the USA. Currently corn is getting a good run but we all know the corn crop is made in August, just like our wheat crop is made in September.

Interesting to note HRWW futures were down on the back of an improvement in the G/E condition rating, now back to 27%, just above the worst rating reported in many year, which was last week. The focus now should be on harvest, not the G/E rating. https://kswheat.com/harvest/26/04, harvest now 30% complete.