# Weekly update - 18 August 2022 - DAFF

> For the week ending 17 August 2022, low-pressure systems brought moderate to heavy rain to southern Australia, while northern areas stayed dry. Soil moisture is well above average in parts of New South Wales, Queensland and Western Australia, raising waterlogging risk. The report also cites below-average July rainfall globally, which is likely to cut wheat output in Argentina, the EU and Canada and to weigh on corn yields in several major producers.

- Date: 2022-08-18 · published 2022-08-18T12:00:00.000Z
- Category: weather · region Australia · magnitude low
- Page: https://feedsoft.ai/events/40012-weekly-update-18-august-2022-daff
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Global grain and oilseed output looks likely to fall below June forecasts, which supports wheat and corn prices. Good Australian rain is a bearish offset for Australian wheat yields.

## Read by commodity

- CORN: bullish ▲
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-05-05 | [Weekly update - 5 May 2022 - DAFF](https://feedsoft.ai/events/41377-weekly-update-5-may-2022-daff.md) | -0.2% | +0.3% |
| WHEAT | 2021-05-13 | [Weekly update - 13 May 2021 - DAFF](https://feedsoft.ai/events/47055-weekly-update-13-may-2021-daff.md) | -1.8% | -4.6% |
| WHEAT | 2022-02-24 | [Weekly update - 24 February 2022 - DAFF](https://feedsoft.ai/events/42664-weekly-update-24-february-2022-daff.md) | +6.8% | +25.3% |
| WHEAT | 2022-11-24 | [Weekly update - 24 November 2022 - DAFF](https://feedsoft.ai/events/38634-weekly-update-24-november-2022-daff.md) | -1.0% | -3.4% |
| WHEAT | 2021-01-21 | [Weekly update - 21 January 2021 - DAFF](https://feedsoft.ai/events/49103-weekly-update-21-january-2021-daff.md) | +4.0% | +2.4% |
| CORN | 2022-04-21 | [Weekly update - 21 April 2022 - DAFF](https://feedsoft.ai/events/41816-weekly-update-21-april-2022-daff.md) | -1.5% | -3.5% |
| CORN | 2023-02-16 | [Weekly update - 16 February 2023 - DAFF](https://feedsoft.ai/events/37306-weekly-update-16-february-2023-daff.md) | -0.4% | -4.9% |
| CORN | 2025-02-28 | [W8 2025: Maize Weekly Update](https://feedsoft.ai/events/26086-w8-2025-maize-weekly-update.md) | -2.4% | +0.5% |

## Sources

- agriculture.gov.au: https://www.agriculture.gov.au/abares/products/weekly_update/weekly-update-180822

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.