Never mind soaring fertilizer costs or snarled supply chains -- of all the inputs Australian farmers are considering ahead of the next crop, there’s one that matters more than the rest: prospects for abundant rainfall.
Undeterred by lofty prices for many inputs right now, growers Down Under “aren’t really holding back on the area,” according to Thomas Elder Markets grains analyst Andrew Whitelaw, who said months of heavy rain had boosted soil moisture in the east, while Western Australia had also “received a good dump of rain.” With the outlook pointing to another wet season, that’s stirring optimism about production just as seeding kicks off, Whitelaw said.
