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Dry topsoil in northern New South Wales is delaying completion of Australia's new-crop sowing, while most other grainbelt growers have finished. Australian Crop Forecasters estimates wheat at 27.9 million tonnes and barley at 10.5 million tonnes.
Dry conditions in key northern regions raise the risk of smaller Australian wheat and barley crops, supporting feed grain prices if rain fails to arrive.
graincentral.comLiz WellsMay 28, 2023After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
