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Australia's ABARES reported a record winter crop, with a 32% rise to 52.4 million tonnes. Wheat is forecast to reach 32.9 million tonnes, beating the previous record of 29.9 million tonnes.
Barley is seen at 10.6 million tonnes, and lentil and chickpea crops are also expected to set records.
Record Australian wheat and barley output increases global export availability and pressures feed grain prices. Strong pulse output may also weigh on protein feed markets.
therural.com.auGregor HeardDec 7, 2016After 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.
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.
