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ABARES's September report forecasts Australia's winter crop at 47.9 million tonnes, second only to 2016-17. Wheat is pegged at 28.9 million tonnes and barley at 11.2 million tonnes, while Queensland wheat was cut after poor winter rain.
A second-largest winter crop on record boosts export supply of wheat and barley, bearish for feed grain values, partly offset by the Queensland shortfall.
queenslandcountrylife.com.auLloyd George, Ag ScientiaSep 14, 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.
