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For the week ending 23 November 2022, cold fronts brought significant rain and strong winds to southern Australia, with totals above 50 mm in some alpine and northern areas. Moderate rain prolonged waterlogging of winter crops in southern NSW and Victoria, while dry conditions in Queensland and northern NSW allowed harvesting to continue.
La Niña remains mature, and the Bureau's outlook favours above-median rainfall for December to February in eastern cropping regions.
Persistent wet weather and waterlogging in eastern Australian cropping areas raise quality and yield risk for wheat and barley, which can support export prices if downgrades build. The La Niña outlook keeps the supply risk in play into summer.
agriculture.gov.auNov 24, 2022After 224 past neutral weather events, WHEAT moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
