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Rabobank forecasts Australia's 2022-23 winter grain crop at 61.9 million tonnes, down 1% on last year but 41% above the five-year average. Wheat is seen at 35.5 Mt, barley at a record 14.8 Mt and canola at a record 7.2 Mt, while excessive rain is causing downgrades in parts of NSW and Victoria.
A large barley and canola crop adds export supply and points to softer feed grain and meal prices, while quality downgrades from rain could support prices for higher-grade wheat.
afdj.com.auOct 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.
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.
