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Australian Agriculture Minister Murray Watt welcomed ABARES forecasts of record farm exports above $70 billion and a 55.5 Mt winter crop. He also noted the national sheep flock rose to 70.8 million, the highest since 2018.
The statement mainly repeats the ABARES forecasts, which point to ample Australian grain exports, a modestly bearish signal for wheat and feed grain prices.
minister.agriculture.gov.auSep 6, 2022After 122 past bearish policy events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), 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.
