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ABARES expects Australia's winter crop to reach 33.9 million tonnes, 16% below the 10-year average, with Queensland about 60% and New South Wales over 50% below average. The forecast follows last year's drought-hit harvest, which led Australia to approve imports of foreign wheat for the first time in over a decade.
Another poor harvest keeps Australian export supply tight and sustains demand for imported feed grains and wheat in the eastern states.
abc.net.auKath SullivanSep 10, 2019After 769 past bullish report events, WHEAT 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.
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.
