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Rabobank's 2023/24 Australian Winter Crop Outlook projects 23.48 million hectares planted, up slightly on last year. Overall harvest totals are expected to fall below recent bumper crops as the climate shifts toward El Niño, though the crop could still support global wheat needs.
Lower expected Australian harvest volumes reduce wheat and barley export supply, which supports feed grain prices relative to last season's record crops.
graincentral.comGrain CentralMay 31, 2023After 769 past bullish report events, WHEAT 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.
