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ABARES forecast Australia's 2021-22 wheat output at 32.6Mt, barley at 12.5Mt and a record 5Mt of canola in its September crop report. Wheat production rose 17% from the June estimate on higher yields in all mainland states.
Larger Australian supplies of wheat and barley add to export competition, which tends to cap prices for feed grains and wheat.
beefcentral.comGuest AuthorSep 7, 2021After 1,006 past bearish report events, WHEAT 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.
