Loading…
The NSW Nationals reported that Australia's winter crop was revised to a record 61.9 Mt, with record wheat, barley and canola production. Summer crops are forecast at 5.3 Mt, up 64%, and planted area rose 48% to 1.5 million hectares.
Record Australian winter crops and a large rebound in summer crops add export supply for feed grain buyers. This is bearish for wheat, barley and sorghum prices.
nswnationals.org.auPaul ChristensonMar 1, 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.
