Despite an anticipated 24% drop in wheat output this season, Australia still has ample wheat supplies for export.
Has the global wheat outlook worsened in the past month? Australia, Argentina and Brazil are the main wheat growers in the Southern Hemisphere that may alter the wheat production outlook in USDA’s October report, due out Thursday.
Australia wheat production may shrink by 24% this season due to drought. This is based on a September production estimate from Abares the commodities bureau. Australia is a leading world wheat grower and the second largest wheat exporter behind the United States... subscribers continue to full story...