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An Australian commentary describes unseasonably warm, dry conditions across northern New South Wales in winter, with temperatures reaching 24 degrees Celsius. It notes that dry conditions and diminishing Australian production are affecting winter crops, and that several regions, including north-western NSW and the Eyre Peninsula, need rain.
Lack of winter rainfall reduces Australian wheat and barley output, which can support international prices for these grains and the feed buyers who rely on them.
theland.com.auPeter McMeekin, NideraJun 28, 2017After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
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.
