Australia reduced prospects for wheat exports

08.12.2015 / 07:32

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Australia cut its forecast for wheat exports by 3.3% after the dry and hot weather is the reason for low yields, more shipments, forecast the country

Australia is the fifth largest wheat exporter in the world. Last week had lowered its forecast for the harvest estimate of -5.1% to 24 million tons, referring to the hot and dry weather in October

Likely reduced yields in Australia will not cause a shortage of wheat and the price increase and, as world wheat production will reach 727 million tons in 2015-16, compared to 723 million tons a year earlier, according to Abares.

E.Dimitrov JrTrader

Varchev Traders

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Australia reduced prospects for wheat exports

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