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A weekly Australian grains update notes that new-crop wheat values drifted lower after rain in Queensland and northern New South Wales. Trade buying in cash markets focused on lower grades, compressing grade spreads.
Southern markets were supported by ongoing dry weather in South Australia, and the Australian dollar fell about 4% over the week to just over 60 US cents.
Rain in the north eases supply concerns for new-crop wheat, while the weaker Australian dollar reduces export prices in US dollar terms. Southern dryness limits the downside.
basiscommodities.comApr 9, 2025Not 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.
