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Tasmania's three main winter crops (wheat, barley and canola) reached a record 153,000 tonnes in 2022-23, up 47% from the previous record of 103,800t, according to ABARES estimates. Good seasons, new varieties and agronomic guidance from the Hyper Yielding Crops project drove the gain.
The surge is also increasing demand for private storage and supply chains because Tasmania has no public bulk-handling system.
Larger local supply in a small state adds modestly to Australian wheat and barley availability for export, which is mildly bearish for those prices. The effect on world prices is limited because Tasmania's volumes are small.
graincentral.comLiz WellsApr 5, 2023After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
