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Australian domestic grain markets firmed as buyers competed for farmer offers to fill export positions. Wheat, barley and canola exports ran at record pace, with December 2022 major grain exports above 4.6 million tonnes.
ABARES is expected to lift its wheat crop forecast to 38 million tonnes or more in March.
Strong export pace and firm domestic bids support Australian grain prices in the near term. Larger crop estimates could ease that support later in the season.
basiscommodities.comBasis CommoditiesFeb 21, 2023After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
