Loading…
The Grain Industry Association of WA raised its 2022-23 harvest forecast by 800,000 tonnes to about 23.15Mt, and the November forecast is 23.967Mt, with 12.6Mt of wheat and 6.15Mt of barley. Experts say the crop could beat last year's record of 24.3Mt by a fair margin despite rain and hail.
A potential record WA crop increases export supply of wheat and barley from Kwinana, Albany, Geraldton and Esperance, which is bearish for prices. Harvest delays are the main risk to the timing of that supply.
countryman.com.auShannon VerhagenNov 17, 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.
