Drought in New South Wales Dragging Australia Wheat Lower

September 1, 2011

Australia has received good rainfall in August in the top wheat producing states Western Australia, New South Wales and Victoria.   However,  New South Wales prospects are reduced from drought previously, April through July.    Damage may be irreversible.    The Australia Commonwealth Bank in August predicted the new Australia wheat harvest may shrink to 23.54 million tons and 10.5% below last year.

New South Wales wheat production was set at 7.1 million metric tons... subscribers continue to full story...