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Prolonged dry weather across central and northern NSW and Queensland is threatening Australia's 2018 wheat crop. NSW wheat plantings are forecast to fall 10% to 2.8 million hectares, and state yields are expected to be 10% below average unless June rainfall arrives.
Expected NSW and Queensland yield shortfalls tighten Australian wheat and feed barley supplies, supporting prices for feed buyers if June rain fails to arrive.
theland.com.auLloyd George, Ag ScientiaJun 19, 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.
