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The Australian Department of Agriculture's weekly update reported rain in northern and eastern regions, with early sown summer crops yielding well and some harvesting stalled. It also said La Niña is active and expected to weaken, with wetter-than-average conditions forecast for March to May.
Favourable Australian rainfall and strong yields support ample export supply of grains, which is a mildly bearish factor for world feed-grain prices.
agriculture.gov.auFeb 24, 2022After 224 past neutral weather events, WHEAT moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
