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The International Grains Council cut its 2017-18 Australian grains production forecast to 32.8 million tonnes, with wheat at 21.5 million tonnes, a nine-year low. Barley was forecast at 7.8 million tonnes, and frost concerns in New South Wales were cited.
Lower Australian wheat and barley supplies tighten the export balance for buyers in Asia and tend to support world feed grain prices.
world-grain.comChris LyddonNov 3, 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.
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.
