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Australian grain markets were drifting after the May WASDE report failed to move prices either way. A poorer US winter wheat crop was offset by strong European prospects, and the Black Sea corridor extension kept Ukrainian grain flowing.
Analysts saw wheat and barley as slightly bullish while canola was expected to struggle to hold its value.
Balanced production news leaves prices range-bound into the northern hemisphere harvest, with barley supported and canola exposed to softening from high levels.
farmonline.com.auGregor HeardMay 29, 2023Not enough comparable past events yet for a historical read.
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.
