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Decade-low wheat and barley crops in Queensland and New South Wales are leaving northern feed grain buyers dependent on interstate supplies. Victoria surprised with high barley yields, while South Australia's yields remain about 25 percent below average.
Northern feed users will bid for southern grain, supporting barley and wheat basis and freight demand, while Victoria's stronger yields add some offsetting supply.
queenslandcountrylife.com.auLloyd George, Ag ScientiaNov 22, 2019Not enough comparable past events yet for a historical read.
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.
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.
