Loading…
ABARES forecast Australia's 2022-23 wheat crop at 36.6 million tonnes, a record, and canola at 7.3 million tonnes, also a record. Barley was forecast at 13.4 million tonnes, the fourth-largest crop on record.
The agency said the gross value of agricultural production should be near a record A$85 billion.
A record Australian wheat and barley harvest adds exportable supply in the northern hemisphere's off-season, which pressures world wheat and barley prices and gives feed buyers more origin choice.
graincentral.comGrain CentralDec 5, 2022After 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.
