ABARES raised its 2020/21 Australian wheat production forecast by nearly 10% to 31.17 million tonnes, up from 28.91 million in September. That would be the country's second-biggest wheat crop on record, just short of the 31.8 million tonne high in 2016/17.
Harvest is already under way in many regions.
A near-record Australian crop adds export supply just as global wheat prices sit at multi-year highs, which points to downward pressure on FOB wheat prices. Lower wheat values can make wheat a cheaper feed alternative to corn.
Na 334 eerdere neerwaarts weer-gebeurtenissen bewoog Tarwe (SRW) zich mediaan -0,2% over 5 sessies (47% hoger; middelste helft -1,9% tot +1,7%), en -0,2% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.