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ABARES forecasts Australian winter crop production to rise 11 percent in 2019-20 to 33.9 million tonnes, still 16 percent below the 10-year average. Wheat and canola are forecast up 10 and 6 percent, with barley around 9.5 million tonnes, while NSW and Queensland crops are very much below average.
Output still well below average limits Australian export supply, supporting wheat, barley and canola prices in international markets.
thecattlesite.comGlobal Ag MediaNov 13, 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.
