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NSW's winter grain crop reached 13.8 million tonnes, the state's largest ever, according to ABARES. Harvest logistics were strained, and quality was partly compromised, with ASW the main wheat grade.
Scarce high-protein wheat is supporting Hard 2 prices.
Record volume adds to bearish feed grain supply, but tight high-protein wheat supports premiums for quality-sensitive buyers.
theland.com.auLloyd George, Ag ScientiaJan 13, 2017After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 180 past bullish report events, Wheat (HRW) moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% 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.
