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Rabobank's Australian Winter Crop Outlook forecasts a planted area of 23.48 million hectares for 2023-24, slightly above last year and 5% above the long-term average. Production is seen lower than recent bumper harvests, with wheat at 29.9 million tonnes, barley at 10.8 million and canola at 5.4 million.
Lower Australian wheat and barley output versus recent record crops tightens exportable supply for feed grains and supports prices, especially if El Niño dries conditions further.
farmonline.com.auGregor HeardMay 30, 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.
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.
