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The Australian wheat harvest began in Central Queensland, marking the start of the winter crop harvest. ABARES forecasts a winter crop of about 54.8 million tonnes on a record planted area of 23.2 million hectares.
Harvest start confirms the large crop forecast already expected, so it adds little new supply information for feed buyers. Prices are mostly influenced by the size of the crop and export demand.
abc.net.auMatt BrannSep 10, 2021After 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.
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.
