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ABARES cut Australia's 2018-19 winter crop forecast to 29.3 million tonnes, 20 per cent below the 20-year average, after the driest September on record and significant frost damage. The lowest-since-2008-09 outlook reflects downgrades in most states except Western Australia.
A smaller Australian crop cuts export supplies of wheat, barley and canola from a major exporter, which tends to firm world feed grain and oilseed meal prices.
abc.net.auJess DavisDec 3, 2018After 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.
