Ag production falls for third year in row: ABARES

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.

• Sep 12, 2017Forecast decrease for winter crop production: ABARES - Grain Central+1.0%
• Dec 2, 2019ABARES crop report forecasts winter production slump for third year in a row - ABC News-0.7%
• Dec 4, 2018Winter crop production down after poor start to spring: ABARES - Grain Central-0.3%
• Aug 8, 2017Wheat production forecast down: NAB - Grain Central+0.5%
• Sep 17, 2019ABARES slashes grain production forecasts | The Land | NSW+2.4%

Not enough comparable past events yet for a historical read.

After 12 past bullish weather events, Lean Hogs moved a median +1.5% over 5 sessions (58% higher; middle half -1.6% to +7.1%), and -3.9% over 20.

• Feb 13, 2019Floods, drought, trade wars - trying to understand risk in a sea of uncertainty - Beef Central+0.9%
• Jun 3, 2016Futures File: Soaring prices prove pigs can fly; weather worries push grain prices higher – Greeley Tribune+2.1%
• Aug 20, 2021After the Bell | Aug. 20, 2021 - Pro Farmer-0.2%
• Mar 16, 2019Futures show late-week promise+11.9%
• Sep 21, 2018Farmers Warn of a Chicken and Pork Price Spike, Thanks to Hurricane Florence | 2018-09-21 | SupplyChainBrain+4.5%