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Dry conditions in Queensland and northern NSW have left eastern Australian wheat and barley prices at premiums to world parity, keeping most of the region's new crop from export. Feedlots, pig and poultry operations are driving demand for wheat and barley over sorghum.
Frost damage and poor yields have reduced crop potential, and growers are holding grain rather than selling.
Tight domestic supply and strong local feed demand support Australian wheat and barley prices, and push sorghum to a discount. Feed buyers in eastern Australia face higher barley and wheat costs.
graincentral.comHenry WellsSep 26, 2017Not enough comparable past events yet for a historical read.
After 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.
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.
