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Australia's 2019/20 winter crop is forecast to be worse than last year's already low crop after a dry August and September. The Bureau of Meteorology expects below-average rainfall and above-average temperatures through the rest of the year, and crops are being cut for hay across all states.
Further downgrades to Australian grain output tighten exportable wheat and barley supply, which supports global prices for these feed and food grains.
grainbrokers.com.auGBAOct 17, 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.
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.
