Australia: Grain and Feed Update
Australian winter crops have benefited from very favorable seasonal conditions, apart from some cases of frost and waterlogging damage which are not expected to have a major impact on production or yields. Post forecasts 2016/17 wheat production to reach 27.5 million MT, matching USDA’s official estimate. Similarly, Post forecasts 2016/17 barley production at 9.9 million MT due to considerable rainfall and improving soil moisture. Lower international demand and prices for sorghum are expected to lead to substitution to other crops, including
cotton and legumes. Post forecasts the 2016/17 sorghum production at 2 million MT, slightly below the official estimate. The rice crop is expected to recover significantly due to abundant and lower cost water and favorable conditions. As a result, Post forecasts 2016/17 rice production to reach 576,000 MT on a milled basis.
