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GrainCorp received about one million tonnes of grain into its NSW storage network in the week to November 21 as harvest picked up in northern NSW. Growers reported strong yields, with wheat at four to five tonnes a hectare and larger barley yields in the northwest.
Quality has mostly exceeded expectations, though black tip has affected some crops.
A bumper Australian harvest adds export supply heading into the 2016-17 marketing year, which tends to pressure wheat, barley and feed grain prices.
theland.com.auLloyd George, Ag ScientiaNov 25, 2016After 334 past bearish weather events, Wheat (SRW) 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.
