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Australian wheat futures fell to their lowest level since August after world wheat markets slumped, with CBOT wheat losing $5-10 a tonne in Australian dollar terms. Analysts cite ample global supply and no major northern hemisphere production risk, and an inverted market favors old crop over new crop.
Global oversupply and a stronger Australian dollar make Australian wheat look expensive, pressuring export prices and farmer selling decisions.
farmonline.com.auGregor HeardMar 14, 2017Not 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.
