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Victorian winter crop production is forecast to reach a record 10.7 million tonnes for 2022-23, up 15 percent, despite flood losses following record October rain. ABARES puts Victorian wheat at 5.37 million tonnes and barley at 2.9 million tonnes, with the full extent of losses still uncertain.
Strong Victorian output adds regional grain supply, mildly bearish for wheat and barley, though flood-related losses leave downside risk to the forecast.
theguardian.com.auJan 6, 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.
