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ABARES forecasts Australia's 2020-21 agricultural production value will reach a record $66 billion, driven by good weather and a large grain harvest. Average farm incomes are projected to rise 18% to $184,000 per farm.
A huge Australian grain harvest adds exportable feed grain supply, which tends to pressure feed grain prices in export markets.
abc.net.auKath SullivanMar 1, 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.
