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Australian wheat, canola and barley exports for the first five months of 2017 were over 60 percent above normal, at 17.2 million tonnes. Industry sources expect only 5-6 million tonnes of wheat to remain by the end of the marketing year in September.
Heavy export pace drains Australian old-crop supplies and supports wheat and barley prices into the new season, while a large crop limits how far prices can rise.
reuters.comNaveen ThukralMay 26, 2017After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
