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ABARES puts Australia's 2023/24 canola crop at 5.7 million tonnes, up 200,000 tonnes from December but 31% below last year's record. Total winter crop output is 46.7 Mt, with wheat at 26.0 Mt and barley at 10.8 Mt.
Wheat quality was mixed, with more high-protein grades in WA and SA.
Canola supply is smaller than last year, but the upward revision limits support for canola meal. The report has little direct effect on feed grain prices.
ukragroconsult.comMar 7, 2024Not 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.
