◂ Event Timeline

Nov 2, 2020WEATHERAustralia

Just when Australia needs it, wheat farmers start bumper harvest

Australia's wheat harvest is expected to reach about 29 million tonnes, up roughly 90% from last season, according to government forecasts. Recovery is led by areas including Moree in New South Wales.

WHY IT MATTERS

A sharp rebound in Australian wheat output expands export supply and weighs on global wheat and feed grain prices.

AFFECTSWheat (SRW)▼

SOURCE
reuters.comJonathan BarrettNov 2, 2020

Price reaction & history

Wheat (SRW)▼bearishSO FAR1d -1.7%5d -1.8%20d -7.4%

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.

Jul 16, 2020Australian farmers prepare to harvest large wheat crop-0.0%
May 25, 2021Favourable Australian weather spells second bumper wheat harvest | Financial Post-2.5%
Nov 13, 2020Australian harvest puts pressure on wheat prices | Farm Weekly | WA-2.7%
Dec 3, 2020Australia to Harvest Second Biggest Wheat Crop on Record | Feed & Grain+9.8%
Oct 23, 2023Rainfall lifts Australia’s wheat harvest by several million tons-2.5%

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.

Wheat (SRW) WHEAT · GP ▸

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