ABARES Raises Winter Crop Forecast, Lowers Summer Crops

Says wheat crop up 20% from previous year.

The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) has raised its estimate of winter crop production for 2013-14 to 44 MMT, but has lowered its estimate of summer crop production to 4 MMT. The agency says warm and dry conditions across major summer crop planting regions followed a favorable growing season for winter crops.

For the major winter crops in 2013-14, wheat production is estimated to have increased by 20% to 27 MMT and barley production by a total of 28% from the previous year. Although canola production is estimated to have declined by 12% to 3.5 MMT, this remains the second largest canola crop on record, says ABARES.

ABARES says winter crop production in Western Australia, the largest producing state, is estimated to have increased by 55% t to 17.2 MMT while production in South Australia is estimated to have increased by 31% and in Victoria by 2%. In contrast, winter crop production is estimated to have declined by 14% in New South Wales and by 20% in Queensland, across areas in which poor conditions also saw forecast declines in summer crop production, adds the agency.

Meanwhile, grain sorghum production is forecast to decline by 36%, rice production by 22% and cotton by 8%.


AgWeb-Logo crop
Related Stories
Oliver Sloup with Blue Line Futures says grain markets were trying to divorce from the war headlines and crude oil the last few weeks but now are right back trading with the energy moves.
Greg McBride of Allendale, says grains markets saw profit taking, also saw some farmer selling and hedge pressure on Tuesday.
Grain markets were all lower to start Tuesday seeing some routine profit taking after hitting new highs for the move and even some new contract highs in parts of the corn and soybean complex, according to Brady Huck with Empower Ag Trading.
Read Next
As the Strait closure enters its tenth week, supply chain gridlock and policy hurdles suggest high input costs will persist through the 2027 planting season, according to Josh Linville, vice president of fertilizer with StoneX.
Get News Daily
Get Market Alerts
Get News & Markets App