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Analysts diverge widely on Australia's 2023-24 winter crop farmgate value, with growers planting a near-record area of about 23.48 million hectares. Forecasts hinge on whether El Niño arrives in time to cut yields.
Uncertainty over El Niño-driven yield losses keeps Australian wheat and barley prices sensitive to weather updates, with no clear directional signal yet.
afdj.com.auelizabethMay 30, 2023After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
