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New-crop east coast grain prices rose sharply, with ASX wheat futures up A$22.50 to A$348.50 a tonne. Drought has stopped many Queensland and northern NSW farmers from seeding winter crops, and frosts have added to concerns about southern NSW.
Widespread planting failures in key Australian regions mean tighter feed grain supply and higher prices for buyers sourcing barley and wheat from the east coast.
queenslandcountrylife.com.auLloyd George, Ag ScientiaJul 22, 2018After 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.
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.
