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A Rural Bank and Rural Finance report advises Australian grain growers on crop choices ahead of sowing after a record 2016/17 harvest. The Bureau of Meteorology sees twice the normal likelihood of El Niño developing in 2017, and crop prices remain under pressure.
Expected El Niño risk and persistent supply pressure keep Australian grain prices subdued, with farmers shifting toward canola and pulses over cereals.
narrominenewsonline.com.auApr 18, 2017After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
