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An Australian grain article reports that favourable spring rainfall lifted soil moisture during the critical grain development period, improving winter crop prospects in New South Wales, Victoria and South Australia. It cites ABARES' December report and notes that the Downs region had previously suffered drought.
Better yields in a major exporting region add to global wheat supply, which tends to weigh on wheat prices and export competitiveness.
thegoodwills.comBob WilsonJan 29, 2021After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), 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.
