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Late rain in Western Australia lifted the state's winter crop estimate to about 15.6 million tonnes, roughly 14 per cent above the prior forecast. Growers are harvesting yields about 10 per cent above expectations, with WA wheat put at 9.1 million tonnes.
A larger WA crop adds supply to Australian export markets, modestly easing the tightness that has supported wheat and barley prices.
countryman.com.auMelissa WilliamsNov 16, 2018After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
