Australian Milling Wheat Exports May Drop to 3-Year Low on Rain
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Milling-wheat exports from Australia, the fourth-largest shipper, may drop to the lowest level in three years because of drought in the country’s west and rain damage in eastern states.
Shipments of milling-quality wheat, used in bread, pasta and noodles, may decline in 2010-2011 to the lowest level since 2007-2008, when total exports fell to less than 10 million metric tons, Wayne Gordon, an analyst at Rabobank Groep NV in Sydney, said by phone today.