The increase by the agency ABARES of forecasts for wheat, barley, and canola production in Australia to an almost record level will increase pressure on prices.

Experts from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) in a quarterly report released on December 2 increased production estimates for all winter crops due to better-than-expected rainfall in major grain-growing areas. Harvesting is active in all states, and yield figures in northern New South Wales, Queensland, and Western Australia significantly exceed the annual average. Compared to September estimates, the forecast for winter grain production in Australia in 2025 has been raised by 7% to 66.3 million tonnes, which is 33% above the 10-year average and will be the second-highest figure in history. Winter crop production in Western Australia is expected to be the second-highest on record, while total winter crop production in South Australia will exceed last year's by 63% and in Victoria by 17%. Indeed, the wheat production forecast has been raised by 5.3% to 35.6 million tonnes (34.111 million tonnes last year), which will be the ...