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Rabobank forecasts Australia will harvest marginally larger winter crops for 2024/25 despite significant weather challenges in some key regions. The analyst comments were carried in a local farm publication.
A slightly larger Australian winter crop adds export supply, a mildly bearish factor for wheat and barley prices.
transcontinental.com.auHui JinNov 2, 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.
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.
