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ABARES's December quarterly report puts Australia's 2017-18 winter crop at 35.1 million tonnes, down 41% year on year. Yields are expected to be well below average, with the steepest declines in New South Wales and Queensland, partly offset by Western Australia.
A roughly 41% drop in Australian winter grain output removes a major export supply source and supports feed grain and wheat prices in export markets.
world-grain.comEric SchroederDec 4, 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.
After 52 past bullish report events, Oats moved a median -2.0% over 5 sessions (33% higher; middle half -3.4% to +2.4%), and +0.7% 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.
