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ABARES forecasts Australia's 2017-18 winter crop production to fall 39% to 36.3 Mt, with wheat down 38% to 21.6 Mt, barley down 40% to 8 Mt and canola down 33% to 2.8 Mt. The decline mainly reflects lower yields after the exceptionally high 2016-17 harvest, and outcomes depend on timely spring rain.
A much smaller Australian wheat, barley and canola crop tightens export supplies from Australia and supports international feed grain and meal prices, especially barley and canola meal.
graincentral.comGrain CentralSep 12, 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.
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.
