Australia could have better than expected wheat yields this year
Analysts have raised Australia’s wheat harvest forecast to a record third-highest level at 35.7 million tonnes, driven by strong yields in western regions despite southern dry conditions. Barley estimates also increased by 400,000 tonnes, while canola remained stable. Harvesting continues until January, reinforcing Australia’s role as a top global exporter.
Analysts have raised their estimates for Australia’s wheat harvest, as better-than-expected yields in western cropping regions boosted the production outlook despite losses caused by dry conditions in parts of the south.
With harvesting underway and due to run until January, five analysts lifted their estimates by an average of half a million tonnes since late last month.
The median of their estimates was for Australia to produce 35.7 million tonnes of wheat, which would be the third-biggest harvest on record.
Australia is one of the world’s biggest exporters of wheat as well as barley, canola and other crops.
Analysts also raised estimates for Australia’s barley harvest by an average of around 400,000 tonnes.
Their canola numbers were little changed.
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Source : Ukr Agro Consult
