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ABARES' June crop report forecasts Australia's winter crop plantings down 4% to 21.1 million hectares, mainly in NSW, Queensland and Western Australia. Total winter crop output is seen slightly lower at 37.7 million tonnes, with wheat up 3% to 21.9 Mt and barley up 3% to 9.2 Mt, while canola falls 16% to 3.1 Mt.
A canola output drop and dry-driven area shifts support feed grain prices and reduce canola meal availability. Stronger barley and wheat area partly offsets the tightness.
graincentral.comGrain CentralJun 12, 2018Not enough comparable past events yet for a historical read.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), 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.
