Australia the world's second largest wheat exporter is expected to produce only 22.5 million metric tons of wheat, a 24% shortfall from last year, according to a new forecast from ABARES September 10. The top wheat state Western Australia is expecting a very poor harvest.
The new ABARES estimate would be 22.4% below last year’s record 29.50 million metric tons. Australia wheat exports in 2011-12 expanded to 24 million metric tons. That compares with 28.56 MMT of exports from the United States, the world's leading wheat exporter... subscribers continue to full story...