Further crop cuts anticipate

Dec 16, 2019 at 09:46 AM CST
Smaller than expected grain deliveries in WA and SA have some tipping further cuts in Australia's 2019 winter crop estimates. ABARES recently cut its forecast for Australia's 2019 wheat crop to 15.8 million tonnes, down 8 per cent from last year's decade-small harvest, but further cuts are anticipated. Some traders are now saying the crop is expected to fall below 15mt as ideas of the WA and SA crops erode. Grain deliveries in WA and SA are already tailing away with total receivals well short of the levels needed to justify official crop estimates.

Dec 16, 2019 at 09:46 AM CST

Smaller than expected grain deliveries in WA and SA have some tipping further cuts in Australia's 2019 winter crop estimates. ABARES recently cut its forecast for Australia's 2019 wheat crop to 15.8 million tonnes, down 8 per cent from last year's decade-small harvest, but further cuts are anticipated. Some traders are now saying the crop is expected to fall below 15mt as ideas of the WA and SA crops erode. Grain deliveries in WA and SA are already tailing away with total receivals well short of the levels needed to justify official crop estimates.