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Australia's winter crop planting is nearing completion, with much of South Australia, Victoria and Western Australia sown dry. Forecast rains of 5-25mm for the week to June 4 could allow above-average yields in dry areas if frost damage is minimal.
Delayed rain raises downside yield risk for Australian wheat and canola, which could support global grain prices if the season break fails.
ukragroconsult.comMay 21, 2024
graincentral.comLiz WellsMay 20, 2024Not enough comparable past events yet for a historical read.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
