Jun 21, 2023
Australia Set to Reduce Outlook on Wheat Harvest in Blow to Key Buyer China
A wheat field in Balliang, Australia. Australia is expected to reduce its forecast for the upcoming wheat harvest as hotter conditions bake growing areas, a blow to buyers such as China which may need
A wheat field in Balliang, Australia.
Australia is expected to reduce its forecast for the upcoming wheat harvest as hotter conditions bake growing areas, a blow to buyers such as China which may need more imports after rain damaged its crop.
Drier conditions across top producer Western Australia has already led to an industry association trimming its estimateBloomberg Terminal for the state’s wheat crop, while parts of the east coast have also been hotter. The government’s forecaster is scheduled to release its overall grains outlook on Tuesday.