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ABARES's March Australian Crop Report put the winter crop at a record 61.9 Mt, a 6% upward revision from December, with record wheat, barley and canola output. Summer crops are expected to benefit from above-average rainfall, though wet weather damaged some New South Wales grain quality.
Record Australian output increases available supplies for export markets, which weighs on wheat and barley prices. Quality downgrades in New South Wales may limit some feed-grade volumes.
tradefarmmachinery.com.auTrevor WhittingtonMar 9, 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.
