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ABARES raised its forecast for Australian farm production to a record A$78 billion for the current financial year, with exports also at a record A$61 billion. Rain and floods in NSW and Queensland are expected to mainly downgrade crop quality rather than volume.
Poor conditions in Canada, Russia, Ukraine, Brazil, Argentina and the US have lifted grain prices, and quality downgrades may push some wheat and barley into feed channels.
abc.net.auClint JasperJan 1, 2022After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
