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Grain Brokers Australia's weekly commentary says farmer selling has increased as the southern harvest gathers pace and a stronger Australian dollar pushed grain prices lower. Drought has left Queensland and northern New South Wales with record-low production, and Central Queensland wheat came in near 375,000 tonnes.
Harvest selling pressure in the south is weighing on Australian wheat values, while domestic shortages in the north limit downside. Prices are expected to hinge on China's buying decisions.
grainbrokers.com.auNov 5, 2019Not 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.
