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Australia's 2020-21 winter harvest is forecast at 51.5 million tonnes, the second biggest on record, after a drought-hit 29.3 million in 2019-20. East coast feed grain prices are down 7.7% to 25.3% year on year, and feed wheat delivered to Sydney was A$371 a tonne in the September quarter.
Better pasture growth is also reducing demand for supplementary feed.
Abundant domestic grain and improved pasture are reducing demand for feed grain, keeping Australian prices below year-ago levels. Buyers in the region have cheaper feed options.
mla.com.auDec 3, 2020After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 72 past bearish report events, Oats moved a median +0.2% over 5 sessions (50% higher; middle half -3.7% to +3.8%), and -2.5% 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.
