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Nidera's weekly review says Australian yields remain strong across major grain belts, with east coast quality mostly between ASW and APW grades. Total national wheat production is pegged at about 32 million tonnes, and Newcastle APW wheat recently traded between $220 and $235 a tonne while barley firmed slightly.
A monster Australian wheat crop of about 32 million tonnes weighs on export prices, though a weaker Australian dollar has supported domestic values.
theland.com.auBen Skerman, NideraNov 29, 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.
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.
