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ABARES cut its 2023-24 Australian wheat forecast to 25.4Mt from 26.2Mt in June, while raising barley to 10.5Mt and canola to 5.2Mt. Total winter crop output is forecast at 45.2Mt, down 34% from the record 2022-23 crop and below the 10-year average.
A smaller Australian wheat and barley crop tightens export supplies available to Asian buyers, supporting prices for feed grains and wheat substitutes.
ukragroconsult.comSep 7, 2023After 769 past bullish report events, Wheat (SRW) 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.
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.
