Loading…
The Bureau of Meteorology has raised its ENSO outlook to La Niña, with conditions needing to persist at least three months to count as a La Niña year. BOM expects a weak, short-lived event that may last only until early autumn in Australia.
A weak, short La Niña implies only modest rainfall gains for Australian grain areas, so the price effect on wheat and barley is limited.
queenslandcountrylife.com.auAnnabelle HonnerDec 17, 2017After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
