Loading…
ABARES's latest crop report put Australia's 2023/24 winter crop at 46.7 million tonnes, up from December but 32% below last year's record. Wheat was raised to 26.0 Mt and canola to 5.7 Mt, both still well down on the prior year.
Upward revisions add modest supply, but year-on-year declines keep Australian export availability tight. The effect on world wheat and canola meal prices is limited.
marketsfarm.comPhil Franz-WarkentinMar 4, 2024After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
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.
