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Rabobank's media release reports that Australia's second consecutive large winter crop is forecast at 52.87 million tonnes, down 5% year on year. Canola is forecast at a record 5.16 million tonnes, with wheat at 31.9 million tonnes and barley at 11.7 million tonnes.
Rabobank says global shortages and high prices will keep Australian grain and oilseed prices above the range of recent years, which supports local feed costs.
arr.newsThe EditorOct 20, 2021After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
