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
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
Mark Knight with Farmers Keeper Financial says the funds are exiting as the grains have divorced from the crude oil market and are trading weather.
Ben Rand of Blue Line Futures says an unprecedented Western drought is shrinking crops, drying up wells, tightening hay supplies and accelerating cattle herd liquidation across the region
Read Next
Some of the easier entry points for corn and soybean farmers looking to capture higher returns can deliver $200 or more per acre.
Get News Daily
Get Market Alerts
Get News & Markets App