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DAFF's weekly update reports showers across parts of eastern and western Australia during the week to November 15, with rain and hail halting harvest in Western Australia and likely causing crop losses and quality downgrades. Global crop conditions have deteriorated versus September ABARES forecasts, leaving global grain and oilseed output likely lower.
Lower global output and WA crop losses support grain and oilseed prices, with downgrades in quality affecting feed barley and wheat availability.
agriculture.gov.auNov 16, 2023After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
