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ABARES slashed its December crop forecast, putting Australia's 2018-19 winter crop below 30 million tonnes for the first time in a decade. Wheat fell to 16.9 million tonnes, the smallest since 2007-08, while barley and canola also dropped sharply.
Sharp declines in Australian wheat, barley and canola reduce export availability and tend to lift world feed grain and meal prices.
queenslandcountrylife.com.auLloyd George, Ag ScientiaDec 10, 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.
