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ABARES forecasts Australia's winter grain production at 33.2 million tonnes, down 12% from its June estimate and 9% below the 20-year average. Drought has hit crops in New South Wales and Queensland, while Western Australia is expected to post above-average yields.
A sharp eastern Australian crop cut tightens exportable supply of wheat, barley and canola, supporting prices for Australian and world feed grains.
abc.net.auSep 11, 2018After 1,072 past bullish weather events, WHEAT 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.
