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ABARES warned that Australia's winter crop estimates will likely be cut further, with total winter crop production possibly falling about 15 per cent from the September forecast of 33.2 million tonnes to around 28.2 million tonnes. Wheat output has been cut to roughly 16.5 million tonnes after dry September conditions and frost damage.
A smaller Australian crop tightens export availability for wheat, barley and canola, supporting world prices and making Australian feed grains more expensive to import.
farmonline.com.auGregor HeardNov 6, 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.
