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Australian buyers have raised malt barley premiums above $110 a tonne over BAR1 due to fears of black tip from heavy rain. Some buyers have relaxed receival standards to secure tonnes, and heavy rain across eastern Australia will leave an abundance of feed wheat.
Rain-damaged malt quality supports barley premiums, while surplus feed wheat may substitute for barley and pressure wheat values.
stockjournal.com.auEd Scamps, Grain BulletinNov 18, 2022Not enough comparable past events yet for a historical read.
After 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.
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.
