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The International Grains Council put Australia's 2022-23 wheat production at 30.6 million tonnes, up from 29.9 million tonnes in its previous estimate. Exports are unchanged, and domestic flour-milling use is steady at 3.5 million tonnes.
Flour output is estimated at about 2.1 million tonnes, with about 60% sold for human consumption.
A stable domestic milling base and unchanged exports mean the production upgrade adds to available supply for export. The impact on global prices is small.
tridge.comVictor LangatAug 29, 2022After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
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.
