Precipitation improved the prospects for the wheat harvest in Australia
StoneX experts raised the forecast of wheat production in Australia in 2024/25 MY from 25 to 30 mln tonnes after the rains were favorable for the crops in most of the country, Reuters reported.
As a reminder, in July USDA estimated the wheat harvest in the country at 26 mln tonnes.
At the same time, in some areas of Victoria, as well as South and Western Australia, soil moisture in the root zone remains very low, which negatively affects crops. In May and June, during sowing, the amount of precipitation was insufficient, so the crops need moisture.
Read also
Missed BLACK SEA GRAIN? Get Full Access to Conference Insights!
India urged to block GM imports from the US amid trade talks
Land reclamation is a strategic investment for sustainable agricultural production
Rapeseed oil exports from Ukraine grew 30 times in terms of revenue
Brazil needs $148 bln to close grain storage gap
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon