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ABARES expects Australian farm export earnings to reach a record A$70.3 billion in 2022-23, about 8% above its June forecast. The agency cited favourable weather and high global prices, and forecast wheat at 32.2 Mt and canola at 6.6 Mt.
The export outlook reflects larger Australian grain availability, which weighs on wheat and canola prices and supports adequate feed grain supply for importers.
agriculture.comReutersSep 6, 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.
