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The USDA's December WASDE cut Australian wheat production to 17 million tonnes from 17.5 million in November and reduced Australian wheat exports by 1 million tonnes. The report also showed global wheat production falling for the first time in six years, with tight ending stocks.
Tight global wheat and barley supplies support prices, making cheaper feed alternatives such as corn and sorghum more competitive for feed buyers.
theland.com.auChris Coore, Agfarm Advantage Manager. Advertiser ContentDec 13, 2018After 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.
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.
