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Recent rain in WA's south and south-east coast has helped recover some yield potential in cereal crops damaged by frost and dry September conditions. Grain Industry Association of WA cut its barley estimate by 0.3-0.4Mt from a record 3.8Mt crop, with wheat and canola also trimmed.
Partial recovery in WA limits the downgrade to Australian supply, but the still-lower barley and wheat estimates keep export availability tight.
countryman.com.auMelissa WilliamsOct 26, 2018Not enough comparable past events yet for a historical read.
After 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.
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.
