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Flooding rain and disease on the east coast did not offset a large Australian winter crop, with Western Australia and South Australia posting records. ABARES' official wheat estimate is 36.6 million tonnes, which would be a national record, and farm leaders say input costs mean many businesses only broke even.
A large Australian wheat crop adds exportable supply, which pressures world wheat prices, though lower east-coast yields limit the bearish effect on feed-grade and barley availability.
farmonline.com.auGregor HeardJan 17, 2023After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
