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DTN reports ABARES is forecasting Australia's fifth largest winter crop at 55.1 million metric tons. Gains came from expanded planting in NSW and Queensland and above-average winter rainfall that boosted yields.
A large Australian winter crop adds to global wheat and canola export supply. Strong output keeps pressure on prices.
dtnpf.comTeresa WellsDec 6, 2024After 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.
