Loading…
StoneX says climate indicators and forecasts suggest Australia is unlikely to produce a fourth straight record wheat crop, with an El Niño Watch in place. ABARES forecasts new-crop US HRW wheat prices falling in real terms over the coming years.
A smaller expected Australian crop under El Niño would reduce exportable wheat supply and support global wheat prices, though the wider market is still soft.
graincentral.comLiz WellsMar 20, 2023After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
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.
