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Rabobank forecasts Australia's winter grain harvest at 47.4 Mt, up 63% year on year and 16% above the five-year average. It projects 28.8 Mt of wheat, 11 Mt of barley and 3.3 Mt of canola, and expects grain exports to rise 93%.
A large recovery in Australian exports would add supply to global feed grain markets and weigh on wheat and barley prices, especially with a weak Australian dollar supporting shipments.
graincentral.comGrain CentralOct 22, 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.
