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S&P Global expects Australia's 2024-25 wheat output to rise about 4 million mt to over 30 million mt, with ABARES at 31.9 million mt. Late-November rain delayed harvest and may downgrade 3-4 million mt of wheat, mainly in Victoria and southern NSW.
A sharp output recovery adds Australian feed wheat supply, which weighs on Asian feed wheat prices. Quality downgrades could limit that pressure by pushing buyers toward higher-grade supply.
spglobal.comSampad Nandy, Vivien TangDec 18, 2024After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
