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The ABARE crop report puts Australia's 2017/18 winter crop at 40.1 million tonnes, down 33% from the record 2016/17 harvest, on lower assumed yields. Wheat is forecast down 31% to 24.2 million tonnes and barley down 39% to 8.1 million tonnes.
The lower Australian wheat and barley output reduces export supply, supporting world feed grain prices and reducing Australian barley available to Asian feed buyers.
therural.com.auJun 14, 2017After 769 past bullish report events, WHEAT 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.
