Loading…
ABARES forecasts record Australian agricultural exports of US$75bn for the year to June, driven by a bumper winter crop of 67.3 million tonnes. Good rains at the right time produced the crop, and high commodity prices lifted values.
Drought in other major exporters and the war in Ukraine have also supported prices.
A large Australian export crop adds to global wheat and barley supply, which pressures prices. Strong exports also show that high prices are supporting producer returns.
en.mercopress.comApr 14, 2023After 1,006 past bearish report events, Wheat (SRW) 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.
