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Harvest picked up in the Victorian Mallee, with early yields exceeding ABARES' September forecasts. GrainCorp received about 130,000 tonnes into its Victorian storages by November 21, and harvest in the southern Mallee and Wimmera is expected to start within 7 to 10 days.
Stronger-than-forecast Victorian yields add to the national supply picture, reinforcing downward pressure on Australian wheat and barley prices.
stockandland.com.auLloyd George, Ag ScientiaNov 22, 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.
