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Farm Online reports that ABARES expects Australian grain production to recover in 2020-21 after a 2019-20 season that was 18% lower in volume than the record 2016-17 crop. Domestic grain stocks are historically low, and high domestic prices are likely to persist for some time.
Low stocks and a recovering crop leave the domestic balance tight in the near term, so prices may stay firm before supply rebuilds.
farmonline.com.auGregor HeardMar 2, 2020After 406 past neutral report events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
