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Extreme weather, including drought in the north, late frost and record rain in NSW and Victoria, has left the national grain harvest well below the previous record. Some regions reported yield drops of more than 70%, and GrainCorp recorded nearly 70% lower volumes.
Western Australia recovered late in the season with rain.
A much smaller Australian grain crop reduces exportable supply of wheat, barley and sorghum for feed buyers, supporting prices in import markets. Quality damage from rain and frost may also limit feed value.
abc.net.auJess DavisFeb 6, 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.
