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Crop forecasters expect Australia to post a second consecutive above-average winter crop, with IKON Commodities projecting canola output above 5 million tonnes for the first time. Australian Crop Forecasters predicts a 28.2 million tonne wheat crop, with NSW and Western Australia leading.
Favourable rain and good conditions across major regions underpin the outlook.
Larger Australian canola and wheat supplies would add to global oilseed meal and grain availability, weighing on feed ingredient prices.
farmonline.com.auGregor HeardJul 13, 2021Not enough comparable past events yet for a historical read.
After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
