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Basis Commodities says the 2023/24 Australian wheat estimate is 25.1Mt and barley is 10.0Mt after harvest receival data. A stronger Australian dollar has lifted Aussie wheat FOB values, and more than 70% of barley exports are already sold.
A firmer Aussie dollar raises the cost of Australian wheat in US-dollar terms, which supports FOB prices. Committed sales leave limited spot exportable supply.
basiscommodities.comDec 19, 2023Not 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.
