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ABARES' December crop report puts Australia's winter crop at 29.4 Mt, down 13% from September's forecast. National wheat is seen at about 15.9 Mt and barley at 8.7 Mt, with canola at 2.1 Mt.
The downgrade reinforces tighter Australian wheat and barley supply, which supports export prices and firms feed grain values in Asian markets.
graincentral.comGrain CentralDec 3, 2019After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
