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South Australian barley prices eased about $9/t over the past month to $316/t for old crop and $310/t for new crop. The author notes a stable basis and global corn production expected down 9.2 million tonnes year on year across the three major exporters.
Lower USDA-based corn output and firm Australian barley basis point to limited downside for feed grains, though South American harvest pressure may weigh on global feed prices.
stockjournal.com.auEd Scamps, Cloudbreak Grain MarketingJul 5, 2024Not enough comparable past events yet for a historical read.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
