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ABARES finalised Australia's 2023/24 winter crop estimates at 25.96 Mt wheat, 10.8 Mt barley and 5.68 Mt canola. Wheat and canola were raised on better output in Victoria and New South Wales, while barley was trimmed.
The harvest was earlier and faster than in recent years.
Higher Australian wheat and canola supplies add export competition and weigh on canola meal prices. The smaller barley crop tightens feed grain supply and supports barley prices.
ukragroconsult.comMar 6, 2024
graincentral.comMar 4, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 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.
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.
