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Rain delayed the NSW winter crop harvest in the past week, especially in southern NSW, and downgraded wheat segregations were opened. Hard 2 and Australian Premium White bids rose $10-15/t, feed wheat held near A$300/t Port Kembla, and canola rebounded by about A$40/t to near A$760/t after Statistics Canada cut its canola forecast.
Rain-related quality concerns firm milling wheat values, while a Canadian canola production cut supports oilseed prices. Feed wheat prices were steady, so the feed impact is limited.
theland.com.auLloyd George, AgscientaDec 11, 2024After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), 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.
