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ABARES forecasts Australian winter crop production at 34.9 million tonnes in 2017-18, down 41% from the record 2016-17 crop. Late spring rain improved soil moisture and is expected to lift summer crop plantings 13% to 1.5 million hectares, with sorghum around 2 Mt.
A much smaller Australian winter crop tightens feed grain and wheat supplies for export buyers, supporting prices for barley, sorghum and wheat. Low global grain prices, however, cap the rally.
graincentral.comDec 12, 2017After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
