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Good eastern Australian harvests are restoring Queensland's local grain supply, ending years of imports from Western Australia. About 5 Mt of WA grain has been shipped east since 2017 to feed livestock, and Graincorp reports strong protein and quality in new crop.
Reduced need for WA grain shipments to the east coast lowers domestic freight and export demand for Western Australian wheat and barley, weighing on those prices.
abc.net.auAmy Phillips, Lydia BurtonOct 24, 2020After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
