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Crop forecasters now expect an Australian wheat crop below 16 million tonnes, well under the September ABARES estimate of 19.1 million tonnes. Australian prices continued to fall, with the ASX contract down 3 percent week on week and A$97 per tonne below last year.
Lower Australian output is supportive for global wheat, but falling local prices show weak demand confidence, so the net price effect on feed grains is mixed.
stockco.com.auCaitlin DeardenNov 5, 2019Not 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.
