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Grain Central commentary says many Australian cropping regions lack enough moisture for a wide-scale sowing start around ANZAC Day. The Bureau of Meteorology outlook gives most regions a 50% chance of above-median rain from May to July, supported by a likely negative Indian Ocean Dipole.
A better-than-expected rain outlook for Australian winter cropping supports the view of adequate supply later in the season, which tempers wheat and barley price upside.
graincentral.comGuest AuthorApr 16, 2018After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), 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.
