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Wheat and barley trade in eastern Australia has slowed amid wet-harvest concerns and weaker yield prospects in the west. Lachstock cut its national 2020-21 wheat estimate by 125,000 tonnes to 28.08 Mt, as a cut in WA was only partly offset by a rise in NSW, and the Bureau of Meteorology has declared La Niña active.
A lower national wheat estimate supports prices, while the wet-harvest and La Niña outlook adds to yield uncertainty, though weaker early-October barley bids cap the rally.
beefcentral.comGuest AuthorOct 2, 2020After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), 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.
