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Tropical Cyclone Mitchell brought 50-150mm of rain to parts of Western Australia around 10 February, with destructive winds near Shark Bay. Heavy rain fell across northern and central Australia, with no agricultural losses reported yet.
Rain that supports soil moisture and summer crop yield prospects is mildly bearish for grain prices, as it reduces concerns about Australian production shortfalls.
agriculture.gov.auFeb 12, 2026After 224 past neutral weather events, WHEAT moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
