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ABARES' December 2020 Crop Report forecasts Australia's 2020-21 winter crop at 51.5 million tonnes, up 76% year on year and second only to the 2016-17 record of 56.7 million. New South Wales is expected to post a record crop, helped by favourable September and October rainfall.
Wheat, barley and canola forecasts all rose.
Supplies of wheat, barley and canola from Australia will be large, which weighs on export prices and gives feed buyers cheaper grain options. The size of the crop also reduces the need for imported feed grains in the region.
farmonline.com.auVernon GrahamNov 30, 2020
graincentral.comNov 30, 2020
rbmagazine.com.auDec 1, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 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.
