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Mecardo's market analysis says ABARES data shows records for Australian wheat, barley and canola, with wheat at 36.346 Mt, up 9% on 2020-21. Western Australia drove the gains, while East Coast production was not a record despite upward revisions.
Australia has produced a large surplus of wheat over recent years, providing export supply that eases pressure from the Black Sea disruption. This keeps wheat and barley prices under pressure relative to a tighter market.
mecardo.com.auAngus BrownMar 23, 2022Not enough comparable past events yet for a historical read.
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.
