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ABARES expects 2021-22 winter crop production of 46.8Mt, 13% above the 10-year average, from a record planted area of 23.2 million hectares. Yields are forecast to be strong in NSW, Western Australia and much of Queensland but weaker in South Australia and Victoria.
Above-average Australian winter crop output adds supply to the export market, which is bearish for wheat and barley prices.
graincentral.comGrain CentralJun 7, 2021After 1,006 past bearish report events, Wheat (SRW) 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.
