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Sorghum-area rain forecasts in northern New South Wales and southern Queensland have trimmed values in the north, while southern yield prospects for winter cereals are falling. South Australia cut its production estimate by 22 percent due to dry conditions, and some southern NSW crops are being cut for hay.
A smaller Australian winter crop tightens feed grain supply for domestic buyers and supports prices for barley and hay, while forecast rain in sorghum areas softens local sorghum values.
graincentral.comGuest AuthorOct 10, 2019Not enough comparable past events yet for a historical read.
Not 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.
