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Australia is expected to regain some Southeast Asian wheat market share in the 2020-21 marketing year as its production rebounds on better weather. Indonesian imports from Australia fell from about 4 million mt a year to under 1 million mt in 2019 due to price uncompetitiveness after three drought years.
Supramax freight from Yuzhny to Cigading rose 25 percent from April lows to $26.25/mt.
A recovery in Australian export volumes could add supply competition in Asian markets, while higher freight from the Black Sea partly offsets harvest pressure on CFR wheat prices.
scceu.orgscceuJun 29, 2020After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% 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.
