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The Australian Bureau of Statistics says variation between its preliminary 2016-17 wheat estimate of 30.35 million tonnes and ABARES's 35 million tonnes is normal due to differing methodologies. Farm groups argue that limited cooperation with stocks surveys makes it hard for the market to gauge supply accurately.
Persistent doubts about Australian supply data can keep wheat price discovery uncertain, though the statement itself does not shift the physical balance.
farmonline.com.auGregor HeardJan 22, 2018After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
