Small crops of quality wheat may favour Australia

Australian wheat producers could be in the box seat to reap the benefits of a global shortage of high-quality wheat. This year's wheat crop is one of the smallest it has been in years in the UK, France and US. While Russia and China have come to dominate production volumes globally, the quality remains uncertain. So Australia's high-quality and high-protein wheat could soon be in strong demand for export globally. The generic wheat futures prices remain stubbornly low, but it is hoped there will be strong demand for high-protein Australian wheat. The highest production levels for wheat were seen in Eastern Australia in the past three years.