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ABARES forecasts a record 58.4 Mt Australian winter crop for 2021-22, with record wheat at 34.4 Mt and canola at 5.7 Mt. Barley is forecast at 13.3 Mt, the second largest on record.
Heavy November rain has delayed harvest in New South Wales and Queensland and may reduce grain quality.
A record Australian harvest increases export supply for feed grains and tends to pressure prices. Quality losses from rain could partly offset this by reducing the feed-grade share.
graincentral.comNov 29, 2021
rbmagazine.com.auNov 30, 2021Not enough comparable past events yet for a historical read.
After 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.
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.
