Loading…
Rabobank marginally downgraded its forecast for CBOT wheat prices but expects them to stay above average. It attributed the recent decline to fund selling and Northern Hemisphere harvest arrivals, with hopes for Black Sea exports also key.
Many Australian farmers were still planting grain crops after wet conditions in NSW and Queensland.
A slightly lower CBOT forecast with prices still elevated suggests feed wheat costs will ease somewhat but stay firm in Australia. Planting delays add supply uncertainty locally.
arr.newsNelson Yap, Australian Property JournalJul 27, 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.
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.
