Weather conditions for the development of the wheat crop in Australia deteriorated significantly, resulting in the total value of the gross grain harvest in the current year may not even reach 20 million tons, down approximately 40% compared to last year.

So, this week, the national Australia Bank published its forecast of grain production at the level of 23.3 mln tonnes, which is below both the evaluation of the IGC (24.8 million tonnes) and the USDA (25 million tonnes). However, due to the dry weather that prevails in most of the country currently, a number of experts believes that even this figure is inflated.

According to representatives of Nidera grain Corporation, the Australian wheat harvest in the current year will be lower not only from a record 35 million tons in the last season, but the annual average at the level of 24-25 mln tonnes.

It is noted that the particularly unfavourable situation in Western Australia, which is a key grain-producing center of the country. Precipitation at the end of June in some areas of the specified state has not significantly improved the situation, with the result that the yield of grain is expected at a low level.

Photo: weathernote.ru