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Australian growers got mixed September rain, with NSW and Victoria making grain while Queensland and Western Australia lost ground. The Bureau of Meteorology expects a wetter-than-average spring in the east but WA remains dry, and La Niña has about a 70% chance of developing.
Dry Western Australia crops and uneven eastern rainfall put Australian wheat and barley output at risk, which could firm global wheat prices if dryness persists.
graincentral.comGuest AuthorSep 29, 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.
