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ABARES reports a record 58.9 million tonne Australian winter crop for 2016-17, with wheat at 35.1 million tonnes. Dryland sorghum planting is at a 24-year low due to dry soils in Queensland.
The sorghum planting low tightens feed grain supply in Australia, while the record wheat and barley crop keeps global grain prices subdued.
farmingahead.com.auAlex PaullMar 8, 2017Not enough comparable past events yet for a historical read.
After 334 past bearish weather events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
