Loading…
USDA's Attaché report on Australian grains says wheat production is forecast at 26.5 MMT and exports at 18.9 MMT, both near the 10-year average. Barley output is seen at 10.0 MMT and sorghum at 1.3 MMT, among the lowest in two decades, while a big rice crop of 522,000 MT is expected.
Sorghum output near a two-decade low, combined with strong export demand, tightens feed grain supplies and supports prices. Barley and wheat exports near average limit the upside.
fas.usda.govNov 2, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 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.
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.
