# Weekly update - 18 May 2023 - DAFF

> Australia's Department of Agriculture weekly update reports high-pressure systems kept most of the country dry in the week to 17 May, with rain falling only in parts of Queensland and northern NSW. It notes below-average rainfall in the US, Canada, southern Europe, Argentina and parts of Brazil, while global 2023-24 grain output is now seen above March forecasts.

- Date: 2023-05-18 · published 2023-05-18T12:00:00.000Z
- Category: weather · region Global · magnitude low
- Page: https://feedsoft.ai/events/35904-weekly-update-18-may-2023-daff
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Improved global production prospects outside Australia add supply comfort for feed grains, while dry conditions in key exporters partly offset that.

## Read by commodity

- SOY: neutral
- CORN: neutral
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-08-15 | [Weekly Australian Climate, Water and Agricultural Update, 15 August 2024 - DAFF](https://feedsoft.ai/events/28735-weekly-australian-climate-water-and-agricultural-update-15-august-2024-daff.md) | -6.9% | -2.6% |
| WHEAT | 2021-05-13 | [El Niño/La Niña Update (May 2021)](https://feedsoft.ai/events/46985-el-nino-la-nina-update-may-2021.md) | -1.8% | -4.6% |
| WHEAT | 2025-03-18 | [Australian Crop Update – Week 12, 2025](https://feedsoft.ai/events/25547-australian-crop-update-week-12-2025.md) | -1.0% | -2.0% |
| WHEAT | 2019-05-06 | [Daily Market Wire 6 May 2019 - Grain Central](https://feedsoft.ai/events/7491-daily-market-wire-6-may-2019-grain-central.md) | -5.4% | -9.6% |
| WHEAT | 2025-03-11 | [MMN March 2025 - Cereals Update \| Helping farmers in Scotland](https://feedsoft.ai/events/25644-mmn-march-2025-cereals-update-helping-farmers-in-scotland.md) | +5.7% | +1.9% |
| CORN | 2022-03-03 | [Weekly update - 3 March 2022 - DAFF](https://feedsoft.ai/events/42229-weekly-update-3-march-2022-daff.md) | -0.0% | +7.3% |
| CORN | 2023-10-19 | [Weekly Australian Climate, Water and Agricultural Update, 19 October 2023 - DAFF](https://feedsoft.ai/events/33572-weekly-australian-climate-water-and-agricultural-update-19-october-2023-daff.md) | +1.0% | -2.6% |
| CORN | 2025-06-01 | [May 2025 ENSO update: eye of neutral](https://feedsoft.ai/events/24585-may-2025-enso-update-eye-of-neutral.md) | +0.5% | -2.2% |

## Sources

- agriculture.gov.au: https://www.agriculture.gov.au/abares/products/weekly_update/weekly-update-18523

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.