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The University of Queensland's May 2020 national wheat outlook projects an approximately average Australian wheat yield, with large regional variation. Southern states show above-normal yield potential while parts of Queensland are drier.
An average national yield outlook implies normal export supply, so it has limited price impact relative to the broader crop recovery narrative.
qaafi.uq.edu.auMay 8, 2020After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
