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ABARES' September crop report lifted Australian wheat yields 7% to 2.47 t/ha and barley yields 11% to 2.92 t/ha. Wheat production is forecast at 32.23 Mt and barley at 12.25 Mt, while canola yields rose 13%.
Higher yield expectations in Australia add to global grain supply, adding modest downward pressure on wheat, barley and canola prices.
mecardo.com.auAngus BrownSep 13, 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.
