◂ Event Timeline

Jun 6, 2022REPORTAustralia

ABARES tips wheat at 30.3Mt, barley 10.9Mt, sorghum 2.7Mt

ABARES forecasts Australian wheat output at 30.3 million tonnes, barley at 10.9Mt and canola at 5.6Mt for 2022-23 in its June Australian Crop Report. Wheat and barley would be the fourth-largest on record, and canola the second-largest behind last year.

WHY IT MATTERS

A large Australian crop adds to export supply just as global wheat is tight, which tends to cap wheat and barley prices and pressures feed grain values for importers.

AFFECTSWheat (SRW)▼Barley▼Canola Meal▼

SOURCE
graincentral.comJun 6, 2022

Price reaction & history

Wheat (SRW)▼bearishSO FAR1d +0.5%5d +0.1%20d -0.9%

After 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.

Jun 10, 2020ABARES forecasts 26.7Mt wheat, 10.6Mt barley, 3.2Mt canola - Grain Central-1.1%
Jun 7, 2021ABARES forecasts 27.8Mt wheat, 10.4Mt barley, 4.2Mt canola - Grain Central+1.2%
Sep 6, 2021ABARES forecasts 32.6Mt wheat, 12.5Mt barley, 5Mt canola - Grain Central+0.4%
Jun 3, 2024ABARES forecasts wheat at 29.1Mt, barley 11.5Mt, canola 5.4Mt - Grain Central-5.6%
Sep 5, 2022ABARES lifts wheat, barley, canola estimates - Grain Central-0.5%

Barley▼bearish

Not enough comparable past events yet for a historical read.

Canola Meal▼bearish

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.

Wheat (SRW) WHEAT · GP ▸

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Barley BARLEY · GP ▸

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