
Analysts raised Australia's wheat harvest estimate to a median of 35.7 million tonnes, offsetting southern drought losses with better western yields. Barley was lifted to about 15 million tonnes, a record, while canola was little changed.
Higher Australian wheat and barley output adds to global supply, keeping Chicago wheat near five-year lows and pressuring export prices.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
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.