Australia Heads for Record Wheat Crop Even as Rains Hurt Yields
- Harvest estimate increased almost 14% from September
- Canola output is also likely to be a new record this year
A wheat harvest at a farm near Gunnedah, New South Wales, Australia, in November 2020.
Photographer: David Gray/BloombergThis article is for subscribers only.
Australia, one of the world’s largest wheat exporters, is poised to harvest another record crop this season even as heavy rains hurt yields in the eastern states, according to the government forecaster.
Farmers are set to gather 36.6 million tons in 2022-23, Abares said, which is a jump of almost 14% from its September forecast, driven by spring rains which helped areas in Western Australia and South Australia. It’s also an increase of 1% from the previous all-time high last season. Canola production is estimated at 7.3 million tons, the highest ever and 4% more than last season.