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Export demand from China and a sliding Australian dollar have lifted nearby and new-crop Australian wheat and barley prices by roughly $5-$15 per tonne over the past week. The Australian dollar was quoted at US$0.5530, its weakest since early 2003, making Australian barley, wheat and potentially sorghum competitive for export.
Container shortages are pushing the trade toward bulk shipments.
A weaker AUD and firm Chinese feed grain demand make Australian barley and wheat more competitive on world markets, supporting feed grain prices for buyers sourcing barley and wheat.
scceu.orgMar 23, 2020Not enough comparable past events yet for a historical read.
After 57 past bullish macro events, Wheat (SRW) moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% 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.
