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A USDA GAIN report projects Australia's 2021-22 wheat production at 27 million tonnes, down 6.3 million from 33.3 million in 2020-21. Barley output is forecast at 10 million tonnes, 3 million below last year, on lower planted area.
Wheat and barley exports are both expected to fall.
Lower Australian wheat and barley exports reduce supply to export markets and support world feed grain prices. The decline is driven by reduced planted area and a return to normal yields after a record crop.
world-grain.comHolly Demaree-SaddlerMay 3, 2021After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
