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ABARES' June quarter report forecasts world wheat prices to rise in 2018-19 on lower production in major exporters, especially Russia, and expects world coarse grain prices to increase. Australian oilseed and sugar prices are expected to fall, with downward pressure from global oilseed output growth and uncertainty over Chinese tariffs on US imports.
Higher wheat and coarse grain price forecasts raise feed costs, while lower oilseed price expectations point to cheaper soybean and canola meal inputs for feed mills.
graincentral.comJun 19, 2018After 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.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
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.
