Australian wheat export could be at a high level

Published 2024년 11월 20일

Tridge summary

The Australian wheat harvest for the 2024/25 season is expected to see a significant increase in production, with the USDA forecasting 32 Mt and potential for more than 34 Mt, which could lead to higher exports. The main wheat export destinations include China, Indonesia, the Philippines, Vietnam, the Republic of Korea, Yemen, and Japan. The quality of the higher yielding wheat is not yet determined. The export of high protein wheat from Australia is likely to impact the global grain market, influencing prices and the price spread between milling wheat and feed grains.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Sign up to receive the Weekly Market Report and Grain Market Daily from AHDB. The Australian wheat harvest campaign is underway, and the export supplies will soon be arriving on the market. Australia harvests wheat from October to February, depending on the region. Last marketing year Australia produced 25.9 Mt of wheat and an average of 29.8 Mt a year over the last five years. The USDA’s latest November forecast for Australian wheat production is 32 Mt (exports 25 Mt) for the 2024/25 season, which is significantly higher than last year. The most optimistic figures to show that Australian wheat production in the 2024/25 season could be more than 34 Mt. More wheat production could mean more Australian exports. According to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), the top wheat export destinations in the 2023/24 season, were China, Indonesia, the Philippines, Vietnam, the Republic of Korea, Yemen and Japan. Competition among major exporters ...

Source: Ahdb