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The Victorian Farmers Federation warns that a wet harvest under a possible La Niña could cut grain prices by 25 to 40 per cent through downgrading. The Bureau of Meteorology gives a 70 per cent chance of La Niña returning this spring.
Crops are currently in good condition.
Wet harvest weather could lower Australian feed grain quality and availability, which may firm wheat and barley prices if the risk materialises. The threat is still months away and depends on rainfall.
abc.net.auKatherine Smyrk, Callum MarshallAug 18, 2022After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), 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.
