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Reuters reports Australia is set for a third year of bumper wheat harvests, with the country's wheat output averaging 24.8 million tonnes annually over the past decade. The article is truncated and offers limited detail beyond the early forecast.
A third large Australian crop eases global wheat supply concerns, a bearish signal for wheat export prices.
reuters.comNaveen ThukralJun 2, 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.
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.
