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ABARES's Australian Crop Report puts the 2017-18 winter crop at 35.1 million tonnes, down 41% from last year's 59.5 Mt record. Wheat is forecast at 20.3 Mt (down 42%), barley at 8 Mt (down 40%) and canola at 2.9 Mt (down 31%), while oats fall 44% to 1.1 Mt.
Sharp cuts in Australian wheat, barley and oats output reduce exportable feed grain supplies and support prices for buyers relying on imports from Australia.
graincentral.comGrain CentralDec 5, 2017After 769 past bullish report events, WHEAT 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.
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.
