According to estimates Reuters independent research, conducted among 10 major analysts, brokers, traders and banks in Australia, the gross harvest of wheat in the country in 2018 will be reduced to 20.15 million tons, which is 7% below the official forecast of the Ministry of agriculture of the country (21,64 million tons) and 40% - a record level last year, according to Commodity News. In addition, this result may be the minimum for Australia, starting in 2007/08.

The experts expect that the decrease of the yield of Australian wheat will facilitate sustainable demand for the black sea and us wheat, while keeping the price of grain on the world market.

Recall that the wheat harvest in Australia traditionally begins in October, however, at present the country is unusually high for this time of year, the temperature that can adversely affect the maturation of the grain and shift the timing of harvesting. In addition, the moisture content of the soil is assessed as very low.

Also predicted that the weather factor will lead to a significant reduction in the yield of Australian wheat this year, with analysts also Express concern about a possible decline in the quality high protein wheat in the Eastern parts of the country.

Taking into account the above factors the offer price of Australian wheat in the Asian market had already exceeded the price level of grain from the United States, which is unusual for this time of the year and thereby increase the demand for American grain.

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