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Dry Bulk reported the ABARES June forecasts of 29.1Mt wheat, 11.5Mt barley and 5.4Mt canola. Winter crop area is forecast at 23.6 million hectares, with wheat area up 3% and canola area down 9%.
Larger expected wheat and barley supply from Australia points to more competition in export markets, which weighs on feed grain prices.
drybulkmagazine.comOliver KleinschmidtJun 6, 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.
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.
