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Western Australian growers are expecting a potentially record harvest on nine-year-high grain prices, with the northern wheatbelt showing strong crop potential. Yield outcomes depend on mild spring weather and avoiding frost or heat during flowering and grain fill.
Drought in eastern Australia has pushed prices up, and a strong WA crop would add supply later in the season. Weather in the coming weeks will largely decide whether that supply materialises.
abc.net.auJoanna Prendergast, Mark Bennett, Lucinda JoseAug 22, 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.
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.
