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New-crop wheat bids in Australia fell in the week ending Sept. 17, 2021, after a sell-off in US futures and a stronger Australian dollar.
ABARES raised its forecast for Australia's wheat harvest to a near-record 32.6 million tonnes. ASX wheat futures fell $20/t to $330/t over the week.
A larger Australian wheat crop and firmer AUD reduce export competitiveness and pressure global wheat and barley prices. Australian feed grain buyers should expect lower new-crop wheat and barley prices.
theland.com.auLloyd George, AgscientiaSep 17, 2021After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
