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ABARES expects Australian wheat production in 2021/22 to total 25 million tonnes, down 25% from last season's record harvest of more than 33 million tonnes. The forecast is in line with 10-year averages.
A sharp drop from a record crop tightens Australian wheat export availability, which supports world wheat prices and competes with feed grains for buyers.
reuters.comJonathan BarrettMar 17, 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.
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.
