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ABARES put total 2023-24 Australian winter crop production at 45.2Mt, 34% below last year's record but slightly above the June forecast. Wheat was trimmed by 200,000 tonnes to 25.4Mt, while canola and barley were revised up.
The wheat cut adds to tighter Australian export availability, supporting global wheat and barley prices and feed grain costs.
farmtario.comMarketsFarmSep 5, 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.
