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IKON Commodities forecasts Australia's wheat, barley and canola output at 48.1 million tonnes, down from last year's record 65Mt but 3% above the five-year average. IKON's wheat estimate of 30.4Mt is well above ABARES's June figure of 26.2Mt.
A private forecast above ABARES's wheat estimate suggests the market may see less supply tightening than official figures indicate, which could weigh on prices.
graincentral.comGrain CentralSep 1, 2023After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
