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ABARES tipped a 51.5Mt national winter crop, 7.4% above its September forecast, with New South Wales on the verge of a record harvest. The article also says barley prices have dropped after China introduced tariffs on Australian barley.
A near-record Australian crop increases global feed grain supply and weighs on export prices, while Chinese barley tariffs limit Australia's access to a major buyer.
abc.net.auLucy Barbour, Marty McCarthyNov 30, 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.
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.
