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Australia's agriculture department has granted the Manildra Group's Shoalhaven Starches plant a permit to import bulk wheat from Canada. The first such permit since 2007 is needed because drought has left too little high-protein wheat for the plant.
The imported grain will be processed mainly into products for export.
The import is a small, company-specific supply fix for high-protein wheat. It signals tight Australian protein supplies, with limited effect on global wheat prices.
theaustralianfarmer.comVivien LinMay 15, 2019After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
