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ABARES's December 2023 crop report forecasts Australian wheat at 25.5Mt, barley at 11.1Mt and canola at 5.5Mt. All three estimates rose from September, with total winter-crop output at 46.1Mt, about 33% below the record 2022-23 crop.
Australia's crop is still much smaller than last year's record, which supports export prices for wheat and barley even though the upward revision adds some supply. Expected exports still pull on Asian demand.
ukragroconsult.comDec 6, 2023
graincentral.comGrain CentralDec 4, 2023Not enough comparable past events yet for a historical read.
After 406 past neutral report events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
