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Widespread rain of up to 50mm fell over Queensland's Darling Downs and parts of New South Wales's Central West, enabling farmers to plant winter crops after a four-month dry spell. Western Australian crops received only small falls, and growers there still want a soaking rain.
Improved planting conditions support expected larger Australian winter crop volumes, which modestly reinforces the bearish outlook for wheat and barley export prices.
farmonline.com.auGregor HeardJun 16, 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.
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.
