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ABARES forecasts Australia's 2020-21 winter crop at 44.5Mt, up 53% on 2019-20, on a 23% increase in planted area. Favourable soil moisture in New South Wales, Victoria and South Australia is expected to support above-average yields.
A 53% jump in winter crop output expands Australian supply of wheat and barley for export, adding downward pressure on world feed grain prices.
graincentral.comGrain CentralJun 10, 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.
