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ABARES forecasts Australian wheat production falling 35% to 25.3mt in 2023-24, with barley down to 10.4mt and sorghum to 1.5mt. Global wheat output is seen roughly stable at 791mt, and domestic Australian wheat prices have stabilised over recent weeks.
Lower Australian exports of about 40% reduce wheat supply to importers, while smaller barley and sorghum crops cut feed grain availability in the region, supporting feed prices.
mla.com.auOct 27, 2023After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
