Australia-Grain Harvest.

AUSTRALIA,

GRAIN HARVEST.

The grain harvests in Australia, are reported to be 10 million tons more than last year.

The Australian Bureau of Agriculture and Resource Economics (ABARE), say that there are good signs of the drought conditions receding, with the recent good rainfall.

Winter grain crops should yield 35 million tons, wheat production is forecast at 23.7 million tons.

This is not good news for the global markets, in view of the recent alarm at good harvest globally and low prices.