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Russia's withdrawal from the Black Sea Grain Initiative has shifted the Australian grain market to bullish, with exporters raising elevator margin expectations. Feedlot demand in eastern Australia is building as operators recommission on-farm set-ups, and conditions in north-west New South Wales remain too dry for planting.
Expected loss of Ukrainian exports supports global grain bids, and strong Australian feedlot demand firms local feed grain prices.
ukragroconsult.comJul 21, 2023Not enough comparable past events yet for a historical read.
After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% 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.
