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Western Australian wheat estimates were cut again as harvest results came in 50 to 70 percent complete, with northern yields about 50 percent under recent averages. The state grain body put total WA grain output at 11.42 million tonnes, down 36 percent year on year.
A shrinking Australian wheat crop below 17 million tonnes reduces export availability and supports world wheat prices, while buyers in Asia may need to source elsewhere.
farmonline.com.auMalcolm BartholomaeusNov 18, 2019After 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.
After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
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.
