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An extreme heat wave hit south-eastern Australia, with South Australia recording numerous temperature records, including 46.6 C in Adelaide. Queensland faces well below average summer rainfall that is starting to affect its sorghum production.
Heat and drought reducing Queensland sorghum yields tighten feedgrain supply and support Australian grain prices, adding to pressure on feed costs.
grainbrokers.com.auGBAJan 29, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 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.
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.
