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The Australian Crop Forecasters' first Harvest Wire report estimates the 2016-17 winter crop at 48.7 million tonnes, a record above the 44.5 million tonne 2011-12 level. Frost in Western Australia cut estimates by about 1.6 million tonnes, and harvest started several weeks late after a wet spring.
A record Australian crop expands export supply, though quality shortfalls in milling wheat could support premiums for higher-protein grain.
farmersweekly.co.nzFiona TerryNov 9, 2016After 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.
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.
