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Australian market activity has been quiet as heavy early exports pause and buyers await new-crop direction from the Northern Hemisphere. A tighter US corn balance sheet following the USDA acreage survey and poor northern Plains and Canadian moisture are supporting wheat and feed grains, while Black Sea production faces no major impediments.
Tight global feed grain supplies and weather risk in the US and Europe support corn and wheat prices, though favourable Black Sea conditions and stable wheat balance sheets limit gains.
farmweekly.com.auAdrian MoodyApr 20, 2021After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
