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Australian growers are sowing the 2020 winter crop in a wide-open seeding window after good autumn rains. New South Wales has received more than 150 per cent of average rainfall over three months, and a wheat crop near 9 million tonnes is considered possible.
A strong Australian crop rebound from drought years adds exportable wheat, barley and canola supply later in 2020, which is bearish for global wheat and feed grain prices.
grainbrokers.com.auMay 5, 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.
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.
