Australia may have a good grain harvest

Australia is expected to produce another big grain crop in marketing year (MY) 2022/23 after a record setting winter crop and strong summer crop production in MY 2021/22. Another favorable set of conditions around the time of winter grain planting across most production regions of Australia bodes well for another big planted area of wheat and barley for MY 2022/23.

However, yields are set to come down from the records set in the previous year, resulting in smaller crops. This is set to lead to a decline in wheat and barley exports in the forecast year from record volumes estimated this year. Sorghum production is forecast to decline in MY 2022/23, after making big gains in MY 2021/22 and achieving record yields. Sorghum exports are forecast to decline, but only after an estimated record export program in MY 2021/22.

Rice production in MY 2022/23 is forecast to continue to grow for the third successive year with an increase in planted area driven by an anticipated improvement in irrigation water availability.