Wheat

Experts have raised the forecast for the wheat harvest in Australia


Analysts from Refinitiv Commodities Research have forecast the Australian wheat production 2022/23 increased by 4% to 37,5 million tons, which will also be 1,2 million tons more than the result of the previous season.

Colder and wetter conditions are expected to persist in South Australia over the next two weeks which may delay crop maturation and hamper harvest. In addition, heavy rainfall can worsen the grain quality to lead. However, wheat yields could reach record highs in most regions of the country, including the provinces of Western Australia, South Australia and Victoria.

Also, the experts made the forecast for the Australian canola production 2022/23 increased by 5% compared to the preliminary estimate to 6,8 million tons (at the level of the previous season). However, the state of New South Wales is at risk due to overly humid conditions Oilseeds to be damaged.

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