Loading…
ANZ's agri commodity report forecasts Australia's 2022/23 winter plantings down about 2%, with wheat area falling about 700,000 hectares to 12.3 million. Canola is forecast up 100,000 hectares, while lupins and field peas could rise about 30% to nearly 900,000 hectares.
Lower wheat area is mildly supportive for wheat prices, while rising canola and pulse acreage adds supply of oilseed meal and pulse feed ingredients.
farmweekly.com.auMay 7, 2022After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
