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ABARES forecasts a record Australian winter crop planting in 2021-22, with canola plantings rising about 25% to a record-high oilseed price backdrop. The national winter crop estimate is 46.8Mt, below last year's 55.2Mt but above the 10-year average.
Expanded canola plantings signal more Australian oilseed supply for export, which is bearish for canola meal, though record prices may limit how far that pressure goes.
farmonline.com.auGregor HeardJun 9, 2021Not enough comparable past events yet for a historical read.
After 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.
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.
