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ABARES put Australia's 2018/19 wheat output at 17.3 million tonnes, an 11-year low, down from 21.24 million a year earlier after an east coast drought. The figure was slightly above its December estimate of 16.95 million tonnes.
Australia is the world's No. 4 wheat exporter, so a small crop tightens export supplies and has supported global benchmark prices.
millermagazine.comNewclick Dijital Reklam AjansıApr 3, 2019After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
