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IKON Commodities estimated Australia's 2021-22 winter grain crop at 39.04 Mt, about 13 per cent above ABARES' November figure of 58.4 Mt total. IKON's higher wheat receivals in Queensland and Western Australia drove the upgrade.
A larger private crop estimate suggests more Australian wheat and barley for export, which is mildly bearish for feed-grain prices if the upgrade is confirmed.
farmonline.com.auGregor HeardFeb 16, 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.
