Australia-Wheat harvest forecast.

AUSTRALIA.

WHEAT CROP FORECAST.

The Federal Government of Australia, has cut the forecasts for wheat production this year. The lack of a good spring rain, has made yields look less likely to reach projections.

Despite the recent good rainfall the forecast has now been cut by 11.4 %, to 19.91 million tons.

The revised forecasts, by the Australian Bureau of Agricultural and Resource Economics (ABARE), brings the forecast into line with private estimates.

Meanwhile Russia, China and South America are all enjoying bumper harvests, with the exception of Argentina, who like Australia have not had the rain.