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ABARES' 33% fall in Australian grain production is viewed by some analysts as possibly too optimistic, given dry conditions in Western Australia and South Australia. Wheat is estimated at 24.19 million tonnes, down from 35.11 million, and some analysts see a national wheat crop below 20 million tonnes.
Downside risk to Australian wheat and barley output could tighten export supplies further, which would add upward pressure on world wheat and feed barley prices.
farmonline.com.auGregor HeardJun 16, 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.
