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Australian farmers are likely to plant more wheat and barley in the 2024/25 season, supported by Chinese demand and wet weather on the east coast. Canola sowing is expected to fall amid lower margins and dryness in the west.
Analysts forecast wheat and barley output rising by several million tons and canola dropping by about a million tons.
Larger Australian wheat and barley crops add export supply that could cap global prices, while smaller canola output tightens oilseed meal supply and supports canola meal prices.
devdiscourse.comReutersApr 8, 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.
