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Western Australia's grain industry body raised its wheat forecast by 420,000 tonnes to 10.33 million tonnes, with barley and canola also increased. Higher yields were reported across most crops despite dry season conditions.
Larger-than-expected Australian supply adds to export availability and reinforces bearish pressure on wheat and barley prices.
agcanada.comAGCanadaNov 22, 2024After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Not 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.
