Australia has lowered its barley crop forecast
The Australian Bureau of Agricultural Resources and Economics (ABARE) has lowered its forecast for Australia’s barley crop in the 2024/2025 season by 0.5 million tons to 11.7 million tons. However, the barley gross harvest will be 8% higher than in the 2023/2024 season and 3% above the ten-year average.
The wheat production forecast was raised by 0.06 million tons to 31.9 million tons. As a result, the wheat crop for the 2024/25 season will be 23% larger than the previous season and 20% above the average for the past ten years.
The canola crop forecast was also raised by 0.1 million tons to 5.6 million tons, down 8% from last season but 23% above the ten-year average.
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