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ABARES' December crop report left Australian forecasts largely unchanged, with wheat nudged up 0.3% to 25.45 MMT and barley raised 3% to 10.76 MMT. Canola was lifted 7% to 5.52 MMT, the third highest on record despite a drier season.
Stable wheat and barley estimates and a strong canola crop mean ample Australian feed supply, which limits upside for feed grain prices.
mecardo.com.auAngus BrownJan 16, 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.
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.
