Loading…
ABARES raised its forecasts for Australia's wheat, barley and canola crops in its December 2021 Crop Report. Wheat is now forecast at a record 34.4 million tonnes, up 5.5% from September, and barley at 13.3 Mt, up 6.5%.
Canola rose to 5.7 Mt, up 13.8%.
A larger Australian wheat and barley supply adds export competition and tends to weigh on world prices for feed grains. The upgrade is driven by strong yields in New South Wales and Victoria.
ukragroconsult.comNov 30, 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.
