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Western Australian harvest is forecast at about 18 million tonnes, with the Kwinana zone expected to produce about 8.07 million tonnes and Albany about 4.58 million tonnes. The forecast comes from the Grain Industry Association of Western Australia.
It cites El Niño and the Indian Ocean Dipole as risks.
A large Western Australian crop would ease some of the export shortfall from other Australian regions. Weather risks from El Niño and the Indian Ocean Dipole could still lower yields.
newstral.comNewstral.comJul 19, 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.
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.
