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ABARES forecast Australian agricultural value to reach a record $81 billion in 2021-22, driven by a record grain harvest and the highest prices in 32 years. Average cropping farm income is estimated at $572,000, and agricultural exports are expected to rise by about a third.
A record Australian grain harvest adds supply to world feed-grain markets, which is modestly bearish for barley and wheat prices despite high prices.
abc.net.auKath SullivanFeb 28, 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.
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.
