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Winter crop planting in Australia is well under way, with rainfall across the continent disappointing in April and May. Victoria has had a strong start with more canola area, while Western Australia's dry conditions have closed the canola planting window and left major grain areas similar to last year.
Dry conditions in Western Australia and parts of the south limit the expected supply increase, which modestly supports Australian wheat, barley and canola prices.
graincentral.comGuest AuthorMay 30, 2017After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
