Loading…
ABARES's June report points to a bumper Australian winter crop of 50.9Mt for 2022-23, with wheat forecast at 30.3Mt and canola at 5.6Mt. Favourable weather and high global prices are driving the increase in output and plantings.
Higher Australian wheat and canola supply lowers export competition gaps for importers and softens prices for wheat and canola-based feed ingredients.
world-grain.comJohn ReidyJun 8, 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.
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.
