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Australian wheat and barley prices rose over the past week, tracking stronger offshore values and tighter logistics caused by the New South Wales COVID lockdown. Queensland consumers are bidding up local nearby grain to avoid crossing the NSW border, with border testing and vaccination requirements for truck drivers causing delays.
Border logistics frictions are lifting nearby Australian feed grain prices above fundamentals, and stockfeed millers are accumulating for October-November, supporting cereal and sorghum prices in the near term.
ukragroconsult.comAug 19, 2021After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
