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Recent rains in parched Western and South Australia could add up to a million tons to the country's wheat harvest, analysts said. The rain also benefits barley and canola, and forecasts still exceed 30 million tons for wheat.
Higher Australian wheat output eases global supply after Russian losses, which is bearish for wheat and could cushion canola and barley prices.
timesofindia.indiatimes.comReutersMay 31, 2024After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
