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Historically heavy rain in New South Wales during the week ended March 21 is expected to briefly disrupt Australian wheat trade and cause delays in export cargoes. Sources say the rain may help winter planting in the long run.
Export delays from Australian ports can tighten prompt wheat supply to buyers, giving short-term support to wheat prices before supply normalizes.
spglobal.comMar 24, 2021After 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.
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.
