# Weekly Australian Climate, Water and Agricultural Update, 19 October 2023 - DAFF

> A weekly Australian climate update reports little rain across most cropping regions for the week ending 18 October, with soil moisture declining and yield risk rising. It also notes global grain production conditions have deteriorated since the September ABARES forecast, with drought in parts of the Northern Hemisphere and expanding dryness in Argentina and Australia.

- Date: 2023-10-19 · published 2023-10-19T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/33572-weekly-australian-climate-water-and-agricultural-update-19-october-2023-daff
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Deteriorating global crop conditions and lower-than-forecast supply reduce exportable grain and oilseed availability, supporting feed grain and meal prices.

## Read by commodity

- SOY: neutral
- CORN: neutral
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2025-10-16 | [Weekly Australian Climate, Water and Agricultural Update, 16 October 2025 - DAFF](https://feedsoft.ai/events/22343-weekly-australian-climate-water-and-agricultural-update-16-october-2025-daff.md) | +0.6% | -2.3% |
| WHEAT | 2023-11-16 | [Weekly Australian Climate, Water and Agricultural Update, 16 November 2023 - DAFF](https://feedsoft.ai/events/33121-weekly-australian-climate-water-and-agricultural-update-16-november-2023-daff.md) | +3.7% | +0.5% |
| WHEAT | 2026-04-23 | [Weekly Australian Climate, Water and Agricultural Update, 23 April 2026 - DAFF](https://feedsoft.ai/events/19687-weekly-australian-climate-water-and-agricultural-update-23-april-2026-daff.md) | +1.4% | +2.5% |
| WHEAT | 2025-05-15 | [Weekly Australian Climate, Water and Agricultural Update, 15 May 2025 - DAFF](https://feedsoft.ai/events/24626-weekly-australian-climate-water-and-agricultural-update-15-may-2025-daff.md) | -3.9% | -3.2% |
| WHEAT | 2024-05-16 | [Weekly Australian Climate, Water and Agricultural Update, 16 May 2024 - DAFF](https://feedsoft.ai/events/30189-weekly-australian-climate-water-and-agricultural-update-16-may-2024-daff.md) | +19.1% | +8.2% |
| CORN | 2023-05-18 | [Weekly update - 18 May 2023 - DAFF](https://feedsoft.ai/events/35904-weekly-update-18-may-2023-daff.md) | +5.6% | +2.2% |
| CORN | 2022-03-03 | [Weekly update - 3 March 2022 - DAFF](https://feedsoft.ai/events/42229-weekly-update-3-march-2022-daff.md) | -0.0% | +7.3% |
| CORN | 2021-11-05 | [Iowa Press \| 11/5/2021 \| Agricultural economics and climate \| Season 49 \| Episode 4912 \| Iowa PBS](https://feedsoft.ai/events/13406-iowa-press-11-5-2021-agricultural-economics-and-climate-season-49-episode-4912.md) | +4.3% | +1.6% |

## Sources

- agriculture.gov.au: https://www.agriculture.gov.au/abares/products/weekly_update/weekly-update-191023

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.