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RaboResearch forecasts a 47.1 million tonne Australian winter crop, with wheat at 27.5 million tonnes, down from 31 million last year. Canola and barley output are expected to fall year on year because of low rainfall and late frost, while a large northern chickpea crop lifts pulses.
Lower Australian barley and canola output reduces supply of feed ingredients and oilseed meals, which supports their prices.
farmonline.com.auGregor HeardOct 23, 2024After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
