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Heavy rain is forecast along the East Coast cropping zone, which is expected to slow grain deliveries sharply and halt selling off the header. Harvest deliveries to GrainCorp reached 3.9 million tonnes so far this season.
Rain-driven quality concerns could lift milling wheat and malt barley, while feed values are likely to hold steady or ease under ample storage.
mecardo.com.auAngus BrownNov 21, 2023After 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.
