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ABARES lifted its forecasts for all major Australian crops in its March report, with wheat at 36.3 Mt, barley at 13.7 Mt, canola at 6.4 Mt and sorghum at 2.6 Mt. Summer crop prospects were described as excellent after favourable rainfall in Queensland and northern New South Wales.
Upward revisions across grains and sorghum increase exportable supply from Australia, adding downside pressure on feed grain prices. Favourable autumn rainfall outlook supports further summer crop yields.
ukragroconsult.comMar 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.
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.
