Australian Wheat Down A$51 In Eight Sessions
Australian ASX January 09 milling wheat closed Tuesday A$3.50/tonne lower capping a decline of A$51/tonne in the last eight sessions from a close of A$385/tonne on 21st August.
The decline comes after promising rains fell in eastern Australia over the weekend prompting some analysts to say that these rains are now sufficient to see the crops there through to maturity.
Meanwhile Western Australia is also seen as having a good chance of rain later in the week with some models predicting up to 15mm of rain for the Gascoyne, Central Wheat Belt and Great Southern districts on Friday, with rain continuing into the weekend.
The decline comes after promising rains fell in eastern Australia over the weekend prompting some analysts to say that these rains are now sufficient to see the crops there through to maturity.
Meanwhile Western Australia is also seen as having a good chance of rain later in the week with some models predicting up to 15mm of rain for the Gascoyne, Central Wheat Belt and Great Southern districts on Friday, with rain continuing into the weekend.