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Australian growers planted at least 23.6 million hectares of winter crops, a strong start to the 2024-25 season despite dry conditions in some western regions. Average broadacre farm cash income is estimated to rise by $45,000 to $149,000, and a third-highest harvest on record is expected.
Strong plantings and good rainfall prospects point to larger grain supply, which would add pressure to export prices for feed grains.
afdj.com.auelizabethJun 3, 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.
