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A stronger Australian dollar pushed down domestic barley, wheat and sorghum prices this week, with Downs wheat June down to $400 from $425. Planting of the winter crop is nearly complete, and feedlot demand is subdued as meat stocks clear after COVID-19 lockdowns.
A firmer Aussie dollar lowers export parity and local feedgrain values, and weak feedlot demand adds to downward pressure on Australian barley and sorghum.
graincentral.comLiz WellsJun 4, 2020Not enough comparable past events yet for a historical read.
After 69 past bearish macro events, Wheat (SRW) moved a median -0.5% over 5 sessions (35% higher; middle half -2.6% to +0.8%), and -0.7% 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.
