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Australia's agriculture department has issued a permit for a single bulk wheat shipment from Canada for domestic processing. If completed, it would be the first Australian wheat import in 12 years.
The shipment is expected to arrive in six to eight weeks, subject to strict biosecurity conditions.
Import demand for wheat from a major exporter signals tight Australian supply after drought, which supports wheat prices modestly. The volume is small, so the effect on global prices is limited.
world-grain.comEric SchroederMay 15, 2019After 1,072 past bullish weather events, WHEAT 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.
