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Bloomberg reports Australia's winter wheat crop is forecast to fall more than a quarter in 2026-27 to 26.7 million tonnes, down 26% and below both five- and ten-year averages. The decline is attributed to unusually dry weather, low global prices and higher input costs from the Middle East war.
A sharp Australian wheat shortfall reduces export supply and supports world wheat prices. Low prices and high input costs suggest the reduction could persist if growers cut inputs further.
bloomberg.comBen WestcottJun 1, 2026After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
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.
