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Australia plans to increase wheat area by 1-3% and barley area by 3-15% in 2024/25, while canola plantings could fall 4-20%. Projected production is 26 to 29.9 million tons of wheat, 11.5 to 12.8 million tons of barley, and 4.6 to 5 million tons of canola.
Favorable weather and Chinese demand drive the shift.
Higher wheat and barley output expands export supply from a key exporter, while lower canola output tightens oilseed meal availability.
ukragroconsult.comApr 9, 2024After 333 past bearish weather events, WHEAT moved a median -0.1% 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.
