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Australia's Department of Agriculture is assessing five applications to import bulk whole grain, including wheat, canola, corn and peas, from the US and Canada. Drought has pushed grain prices up sharply over the past year, and Rabobank expects a national winter crop below 30 million tonnes.
Potential Australian imports of US and Canadian grain would add new export demand for those origins, while signalling tight domestic supply that supports Australian and global grain prices.
abc.net.auKath SullivanOct 31, 2018After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
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.
