ABARES Morsel: Wheat – down but not out

Grain | 8th June 2021 | By Andrew Whitelaw

ABARES Morsel

The Australian wheat crop is coming off a big year, with 33.3mmt produced. After such a bumper year, it’s not surprising to see a fall in production.

This year production is forecast by ABARES at 27.8mmt; this is a large fall, but in reality, it is a production figure which remains well above the decade average of 24.5mmt.

Acreage is only up a smidgen (0.55%), but remains very strong compared to most of the past decade.

National yield is forecast at 2.13mt/ha. Down on last years 2.57mt/ha and the record 2016 at 2.61mt/ha.

Important to note that there is a lot of water to go under the bridge between now and harvest. The reality, is that last year’s crop, and the good prospects are impacting on price.

See ‘What are good prospects doing to pricing?

Tags

  • Wheat