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ABARES data shows Australian farm production reached a record $90 billion in 2022-23, with winter crop output at 67.3 million tonnes. Farm exports are forecast to hit $75 billion, while value is expected to fall to $81 billion in 2023-24.
A record Australian crop and export forecast signals heavy origin supply of grains, which weighs on world feed grain prices, while the expected 2023-24 value decline hints at smaller crops ahead.
abc.net.auKath SullivanMar 6, 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.
