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A Farmers Guardian grain market update says Australian wheat production is set to rebound by more than 6 million tonnes to a four-year high of 21.35mt. The recovery follows a catastrophic harvest, helped by improved soil moisture.
A larger Australian crop increases export supply in the coming season, which weighs on wheat prices relative to last year's tight domestic market.
farmersguardian.comAlice DyerMar 5, 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.
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.
