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Heavy rain over the winter has pulled much of New South Wales out of prolonged drought. Farmers are expecting a spectacular winter harvest as a result.
Recovery from drought and a large expected NSW harvest raise Australian grain export supply, which is bearish for wheat and barley prices.
theguardian.comMostafa RachwaniSep 21, 2020After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
