Loading…
ABARES reports that planted summer crop area in Australia fell about 66% to 357,000 hectares in 2019–20. The decline is a 33% downward revision from its previous forecast, with production prospects in Queensland and northern NSW well below average.
Soil moisture was depleted by unfavourable December conditions.
Lower planted area of summer feed grains reduces Australian sorghum supply and supports local feed prices. The revision signals tighter supply than previously expected.
news.agropages.comFeb 21, 2020Not 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.
