# Global headwinds put pressure on local agri sector I Australian Rural & Regional News

> 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.

- Date: 2022-07-27 · published 2022-07-27T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/40540-global-headwinds-put-pressure-on-local-agri-sector-i-australian-rural-and
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

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.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-01-09 | [Forecast - Farmgate value to rise 7% to $65 billion I Australian Rural & Regional News](https://feedsoft.ai/events/49104-forecast-farmgate-value-to-rise-7-to-65-billion-i-australian-rural-and-regional.md) | +1.4% | -4.0% |
| WHEAT | 2023-03-20 | [Australian wheat holds its ground amid Black Sea return to Asia \| S&P Global](https://feedsoft.ai/events/36898-australian-wheat-holds-its-ground-amid-black-sea-return-to-asia-s-and-p-global.md) | -3.3% | +1.0% |
| WHEAT | 2017-03-06 | [ABARES Outlook: Value of Australia's agriculture sector to peak after three years of strong growth - ABC News](https://feedsoft.ai/events/71945-abares-outlook-value-of-australia-s-agriculture-sector-to-peak-after-three.md) | -0.2% | +0.3% |
| WHEAT | 2022-02-28 | [ABARES forecasts value of Australian agriculture to hit $81b in 2021-22, a new record - ABC News](https://feedsoft.ai/events/42662-abares-forecasts-value-of-australian-agriculture-to-hit-81b-in-2021-22-a-new.md) | +12.1% | +26.0% |
| WHEAT | 2023-03-07 | [Australia sets new national crop record  \| Farm Online \| ACT](https://feedsoft.ai/events/36803-australia-sets-new-national-crop-record-farm-online-act.md) | -1.2% | -4.5% |

## Sources

- arr.news: https://arr.news/2022/07/27/global-headwinds-put-pressure-on-local-agri-sector/

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