News from Australia indicates a record wheat harvest may be coming.
Harvesting is currently underway, rather advanced in Western Australia but just beginning in the southeastern Australia wheat growing areas Victoria and New South Wales.
ABARE Forecast Sharply Higher
The new wheat production estimate from ABARE is 8% higher than first expected, now pegged at a record 28.286 million metric tons by the government agency. This would expand the country's wheat exports to 21.6 million metric tons, also setting a record, above the previous record exports 19.225 million metric tons in 1996-97. Australia’s small population generates a large surplus of wheat for export... susbcribers continue to full story...