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South Australia's grain harvest is tracking above expectations after August rainfall offset a dry winter. ABARES expects a national grain harvest above 55 Mt, the fourth largest on record, with yields lifted across all states.
Favourable late-winter rain and a sizable Australian harvest add export supply, which is mildly bearish for wheat and barley prices.
abc.net.auSep 12, 2022After 334 past bearish weather events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
