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The Grain Industry Association of Western Australia forecasts a state crop of more than 15.5Mt, including 9.9Mt of wheat, on near-perfect growing conditions. Australian Crop Forecasters cut its national wheat forecast to 19.6Mt because of drought in Queensland and New South Wales.
A large WA crop adds Australian supply that could cap wheat and barley prices later in the year. Frost or heat stress could still reduce yields.
farmweekly.com.auStephanie SinclairAug 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.
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.
