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A USDA GAIN report forecasts Australia's 2019-20 wheat crop at 20 million tonnes despite ongoing drought in New South Wales and southern Queensland. China's anti-dumping duties on Australian barley are expected to reduce barley and sorghum plantings.
Feed grain shortages on the east coast are keeping domestic prices high.
Lower Australian barley and sorghum output and tight eastern feed supplies support prices for these grains and wheat. Western Australia is expected to supply more export grain.
world-grain.comHolly Demaree-SaddlerMay 16, 2019After 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.
Not 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.
