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Rural Bank forecasts Australia's 2017/18 total crop 35 percent below last season's record. Late-season frost hurt chickpeas and lentils in the Wimmera, and recent heavy rain puts remaining crops at risk of downgrading.
Domestic wheat prices have decoupled from world markets.
A sharply smaller Australian crop tightens export availability and supports wheat, barley and pulse prices, though world wheat remains near 10-year lows.
bcg.org.auBCG StaffDec 6, 2017After 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.
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.
