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Rabobank expects Australian barley output to fall about 15% year on year to 14.1 million tonnes on lower yields in drier New South Wales and Queensland, even as planted area rises. Feed barley futures on the SFE are trading around AUD 310-325/t.
Farmers are shifting land from wheat to barley and canola to manage high fertilizer and diesel costs.
A smaller Australian crop and El Niño risks reduce export supply, which supports global feed barley prices and keeps a risk premium in the market.
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.