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ABARES expects Australia's 2020-21 winter crop production to rise 53% to 44.5Mt on a 23% increase in planted area. Wheat output is forecast at 26.7Mt, up 76%, and barley at 10.6Mt, up 17%.
Larger Australian wheat and barley volumes add export supply and tend to weigh on world feed grain prices, benefiting feed buyers sourcing these grains.
world-grain.comHolly Demaree-SaddlerJun 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.
