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ABARES confirmed the 2021-22 winter crop at 61.9 Mt, the first time Australia has exceeded 60 Mt, up from 58.4 Mt in December. Wheat, barley and canola all set records, though harvest rain degraded quality in New South Wales.
A first-ever 60 Mt winter crop adds substantial exportable grain for buyers seeking non-Black Sea supply, pressuring wheat and barley prices. Quality issues could widen spreads for higher-grade feed.
farmonline.com.auGregor HeardMar 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.
