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ABARES' latest crop report shows mixed conditions, with favourable planting in South Australia, Victoria and southern New South Wales but constrained planting in Western Australia, northern New South Wales and southern Queensland. Winter crop production is forecast to rise about 20% to 36.4 Mt and planted area up about 9% to 19.6 million hectares.
Expected recovery in planted area and output adds to global wheat and feed grain supply, while dry northern regions still limit the size of the rebound.
nationaltribune.com.auJun 11, 2019After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
