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ABARES' December 2020 quarter report projects Australian farmgate production to rise 7% to A$65 billion in 2020-21. Exports are forecast to fall 7% to A$44.7 billion, due to drought after-effects and trade uncertainty.
Meat prices are also expected to ease as the African Swine Fever impact on China's pork output fades.
Lower Australian meat export values and easing China pork-supply shortfall point to softer livestock prices over time. Stronger crop output supports domestic grain supply.
graincentral.comGrain CentralDec 7, 2020After 2,447 past report events, Wheat (SRW) moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), 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.
