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A drop in the Australian dollar combined with a rise in CBOT December wheat futures lifted the Australian-dollar price to its highest level since late August. Concerns about the quality of Russia's crop, with less wheat meeting milling grade, supported futures.
A weaker Australian dollar lifts local wheat prices and supports cash prices for the Australian harvest. Russian quality concerns add some support to world wheat values.
theland.com.auMalcolm Bartholomaeus, Bartholomaeus ConsultingNov 22, 2016After 57 past bullish macro events, Wheat (SRW) moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% 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.
