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ABARES forecasts Australia's 2021-22 winter crop will rise 5% to a record 58.4 million tonnes. Heavy November rain in eastern states and South Australia is expected to downgrade crop quality in some areas and delay harvest in parts of NSW and Queensland.
Quality downgrades shift more wheat and barley toward feed grades, which can add feed supply and pressure feed-grain prices even as total volume is record large.
countrynews.com.auDec 2, 2021After 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.
