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Aug 30, 2019WEATHERAustralia

Feedgrain Focus: Trade slows as crunch nears for borderline crops

Trading volume in the New South Wales nearby grain market has slowed as buyers wait to learn the fate of drought-struggling crops. Western Australian wheat in the Brisbane FOT market fell $5-$10/t to about $386-$388/t, and new-crop Central Queensland wheat for feedlot use was booked at $420/t for October-November delivery.

WHY IT MATTERS

Drought losses in northern NSW crops being cut for hay tighten feed grain supply and support barley and wheat prices for feedlot buyers. Softer spot prices this week reflect slower trade, but drought-hit supply limits downside.

AFFECTSWheat (SRW)▲Barley▲Sorghum▲

SOURCE
beefcentral.comGuest AuthorAug 30, 2019

Price reaction & history

Wheat (SRW)▲bullishSO FAR1d -0.7%5d -2.8%20d +0.9%

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.

Sep 9, 2019Feedgrain Focus: Prices firm as thin crops turn to hay - Beef Central-0.8%
Oct 2, 2020Feedgrain Focus: Price moves mixed in thin trade - Beef Central+1.9%
Oct 29, 2020Feedgrain Focus: Nearby jumps as rain tightens supply - Grain Central-2.0%
May 30, 2019Feedgrain focus: Buyers book tonnes ahead of forward crop fears - Grain Central+9.6%
Jun 19, 2023Feedgrain Focus: Markets firm as dry north throttles sales - Beef Central+2.6%

Barley▲bullish

Not enough comparable past events yet for a historical read.

Sorghum▲bullish

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.

Wheat (SRW) WHEAT · GP ▸

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Barley BARLEY · GP ▸

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