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Western Australian growers were told to expect a drier-than-average 2017 season, with 10 of 11 climate forecasts calling for below-average growing-season rain. The outlook is driven by a predicted El Niño and a positive Indian Ocean Dipole expected by August.
Below-average rainfall in Western Australia's main wheat and barley belt could cut output and support export prices for Australian wheat and barley.
graincentral.comGrain CentralApr 28, 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.
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.
