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Winter cropping in New South Wales' Central West is waiting on rain before planting for 2018. ABARES expects Australian wheat area roughly unchanged, barley area up 3 per cent and canola area up 8 per cent year on year.
Dry seeding conditions raise the risk of lower Australian crop output, which would support export prices, while the shift toward barley and canola changes feed grain supply mix. The effect is limited while rain is still possible.
theland.com.auSamual Reichstein, AwbApr 5, 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.
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.
