Australia: wheat crop will be at 9 years low

09 Aug, 2017
Australia: wheat crop will be at 9 years low
The National Australia Bank lowered its forecast for the wheat crop in the country in 2017 – 2018 by another 600,000 tonnes down to 22.7 million tonnes.

This will be a 9 years low.

In the past week, there was rainfall in the largest wheat producer in Australia - Western Australia, but that did not prevent the forecast to be lowered. The situation worsened after the prolonged drought in June - July and the current rainfall did not bring any significant improvement. It is specified that in the absence of further rainfall in the coming weeks it is possible to decrease the indicator below 20 million tonnes.