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Western Australian growers are delaying dry sowing because subsoil moisture is low and forecasts point to a dry winter. The Grain Industry Association of WA estimates 8.169 million hectares of winter crops, including 4.49 million hectares of wheat, similar to last year.
Analysts expect an average season at best.
Dry conditions in Western Australia, the main winter grain exporter, could limit export supplies and support wheat and barley prices if forecasts hold.
graincentral.comNeil LyonMay 13, 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.
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.
