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A USDA FAS July report forecasts Australia's 2017-18 wheat crop at 22 million tonnes, versus a 35 million tonne record in 2016-17. Barley is seen at 7.5 million tonnes and sorghum rebounding to 1.9 million tonnes, with dry conditions expected to persist through September.
A sharp Australian wheat and barley shortfall tightens export supplies, supporting global feed grain prices and boosting demand for alternative feed grains like sorghum.
world-grain.comSusan ReidyJul 21, 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.
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.
