Loading…
Australian farm production is expected to fall for a third straight year, with ABARES forecasting 2019-20 grain output of about 29.24 million tonnes, roughly 1 million tonnes lower than earlier, after a hot, dry spring. Winter crop production is forecast about 27% below the 10-year average, and summer rainfall is seen below average in Queensland and northern New South Wales.
Lower Australian grain and sorghum output tightens export supply and supports international feed grain prices, particularly sorghum and barley.
farmtrader.co.nzAndrew HobbsJan 23, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), 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.
