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ABARES put Australia's winter crop at 29.3 million tonnes, down 23 per cent, with wheat down 20 per cent to 17 million tonnes and canola down 39 per cent to 2.2 million tonnes. Western Australia accounts for a larger share of output, and the wheat decline is expected to cut exports from the world's fourth-largest supplier.
Lower Australian wheat exports reduce global supply and support feed wheat and barley prices, while the canola shortfall tightens canola meal availability.
world-grain.comSusan ReidyDec 4, 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.
