◂ Event Timeline

Apr 24, 2017REPORTAustralia

Australian 2017 wheat crop forecast to reach 24 million tonnes: USDA report

The USDA Grain and Feed Annual forecasts Australia's 2017 wheat crop at 24 million tonnes, down from a record 35Mt in 2016, and barley at 8.5Mt from 13.4Mt. Australian 2017/18 wheat exports are estimated at 18Mt, down over 20%, partly due to shipping delays and a strong Australian dollar.

WHY IT MATTERS

Smaller Australian exports tighten global feed grain and wheat supplies, while logistics problems add to export uncertainty and support prices.

AFFECTSBarley▲Wheat (SRW)▲

2 SOURCES
graincentral.comGrain CentralApr 24, 2017
graincentral.comGrain CentralApr 24, 2017

Price reaction & history

Barley▲bullish

Not enough comparable past events yet for a historical read.

Wheat (SRW)▲bullishSO FAR1d +1.7%5d +2.4%20d +1.0%

After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.

Jan 18, 2018Where did 5 million tonnes of Australian wheat go? - Grain Central+2.9%
Dec 11, 2019Australian wheat export forecast cut, imports tripled: WASDE - Grain Central+2.6%
May 15, 2023USDA sees 26pc drop in Australia's new-crop wheat - Grain Central-1.6%
Apr 29, 2026Australia’s wheat production forecast to drop | World Grain-3.1%
Dec 5, 2017Winter crop set to fall to 35.1 million tonnes: ABARES - Grain Central-4.7%

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.

Barley BARLEY · GP ▸

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Wheat (SRW) WHEAT · GP ▸

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