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Ray White chief economist Nerida Conisbee says Australia's 2022 farm conditions were exceptional but the 2023 outlook is more uncertain. Wheat and beef account for a third of production value, and wheat production reached a record value of $13.1 billion in 2022.
A less favourable Australian season outlook points to lower grain output ahead, which supports feed grain prices, though the commentary is largely macro and forward-looking.
graincentral.comGrain CentralAug 7, 2023After 57 past bullish macro events, Wheat (SRW) moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% over 20.
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.
