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Export demand from China and a sliding Australian dollar have lifted nearby and new-crop Australian wheat and barley by about $5-$15 per tonne over the past week. The AUD was quoted at US$0.5530, its weakest since early 2003, and COVID-19 has tightened container supply, pushing more grain into bulk shipping.
A weaker Aussie dollar makes Australian feed barley and wheat more competitive on export markets, supporting prices and pulling demand toward Australian origin.
graincentral.comGuest AuthorMar 19, 2020Not enough comparable past events yet for a historical read.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
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.
