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An Outback Magazine feature describes an excellent harvest across Australia after several drought years. GRDC projects winter crop output up 76% in 2020-21, with wheat expected above 30 million tonnes and a crop near the 2016-17 record.
A near-record Australian crop expands export availability for wheat and barley, which tends to weigh on international prices.
outbackmag.com.auOUTBACK magazineJan 19, 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.
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.
