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Australian feedgrain values eased about $5/t in the past week as Victorian and southern NSW growers sold surplus old-crop stock. New-crop markets had little liquidity, and farmers were largely absent from selling as yield prospects for barley and wheat were consolidating.
Thin new-crop selling supports forward barley and wheat prices, and any adverse weather in the second half of winter could trigger a sharp rally as buyers cover positions.
beefcentral.comGuest AuthorAug 1, 2019Not enough comparable past events yet for a historical read.
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.
