# Knife edge market - StockCo Australia

> U.S. crop condition ratings fell to 45% good/excellent, the lowest since 2006, amid continued poor weather. Grain futures rallied about 2-4%, with concern centered on high-protein spring wheat and a widening spread between SRW and HRW contracts. Dry conditions in South Australia and Western Australia also keep Australian basis firm.

- Date: 2017-06-22 · published 2017-06-22T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/70515-knife-edge-market-stockco-australia
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Low U.S. crop ratings and protein scarcity support wheat prices and premiums for high-protein wheat used in feed and milling. The WASDE and ABARES reports offered few surprises.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-12-18 | [Weekly Market Report - Grain Brokers Australia](https://feedsoft.ai/events/61642-weekly-market-report-grain-brokers-australia.md) | -1.8% | -2.2% |
| WHEAT | 2017-07-25 | [Global grain gains \| Meat & Livestock Australia](https://feedsoft.ai/events/69906-global-grain-gains-meat-and-livestock-australia.md) | +6.7% | -1.2% |
| WHEAT | 2021-11-29 | [Wheat Markets Find New Legs in Australia - Alberta Grains](https://feedsoft.ai/events/44081-wheat-markets-find-new-legs-in-australia-alberta-grains.md) | -1.1% | -3.5% |
| WHEAT | 2024-02-02 | [Focus on Australia - 2024](https://feedsoft.ai/events/31612-focus-on-australia-2024.md) | -1.6% | -8.9% |
| WHEAT | 2017-04-18 | [Australia’s wheat crop expected to fall](https://feedsoft.ai/events/71460-australia-s-wheat-crop-expected-to-fall.md) | +1.0% | -0.1% |
| SOY | 2023-08-24 | [More wheat and barley, but lower oat stocks at end-June: Grain market daily \| AHDB](https://feedsoft.ai/events/34643-more-wheat-and-barley-but-lower-oat-stocks-at-end-june-grain-market-daily-ahdb.md) | +1.6% | -4.8% |
| SOY | 2023-07-17 | [Canada Know-Risk Market Outlook \| Dry Conditions Stress Canola](https://feedsoft.ai/events/35146-canada-know-risk-market-outlook-dry-conditions-stress-canola.md) | +0.4% | -6.3% |
| SOY | 2019-06-03 | [Agri Marketing Update](https://feedsoft.ai/events/11385-agri-marketing-update.md) | -2.4% | +2.5% |

## Sources

- stockco.com.au: https://stockco.com.au/knife-edge-market/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.