USDA forecasts Australian new-crop wheat at 31Mt

After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.

• Feb 15, 2021ABARES puts Australian wheat crop at record 33.3Mt - Grain Central+9.4%
• Dec 5, 2022ABARES forecasts record wheat, canola crops - Grain Central-9.5%
• Nov 14, 2022WASDE lifts Aus wheat, barley forecasts - Grain Central+0.8%
• May 13, 2020USDA forecasts intense competition on wheat, corn - Grain Central-0.4%
• Aug 22, 2024USDA forecasts Australia's wheat crop to be up year on year | Farm Online | ACT-0.8%

After 40 past neutral report events, KWHEAT moved a median -0.9% over 5 sessions (38% higher; middle half -3.1% to +1.6%), and -0.5% over 20.

• May 15, 2023USDA sees 26pc drop in Australia's new-crop wheat - Grain Central-7.6%
• Jul 13, 2020Global wheat prices soften in June: USDA - Grain Central+0.3%
• Feb 23, 2018USDA sees mixed crop forecasts in 2018 | World-grain.com | February 23, 2018 15:54 | World Grain+12.8%
• Apr 12, 2023The USDA raised its consumption forecast and lowered its estimate of wheat stocks, but prices continued to fall+1.5%
• May 29, 2026Wheat shipping costs rise via Pacific routes | Feed & Grain-4.5%