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The USDA Foreign Agricultural Service forecasts Australia's 2024-25 wheat crop at 32 million tonnes, 21% above the 10-year average despite dry conditions in southern growing regions. Wheat exports are projected to rise 26% to 24 million tonnes, though China's share of Australian purchases has fallen.
A large Australian crop and export surge add supply to the global wheat market, which is bearish for wheat prices and competes with feed grain demand in Asia.
world-grain.comArvin DonleyJan 24, 2025After 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.
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.
