Wednesday, 16 November 2016
NAB: crop forecast Australian wheat raised
National Australia Bank (NAB) has left unchanged the forecast of production of Australian wheat in the current season (October-September) to 27.6 million tonnes
NAB noted that there is some potential for yield growth in the state of New South Wales. At the same time, there is uncertainty regarding the quality of wheat due to untimely rains in the East of Australia and due to frosts in Western Australia.
USDA estimates the future crop of Australian wheat at 28.3 million tonnes, which is close to the record. Last season, the gross yield amounted to 24.5 million tonnes.
The new harvest will be completed in December.
Translated by service "Yandex.Translation"
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