Australia: Grain and Feed Update

El Niño conditions for Australia remain present, but this has been pushed aside in late spring and early summer after the eastern states received above-average rainfalls. This situation has prompted a rise in the sorghum production forecast for MY 2023/24 to 1.8 million metric tons (MMT), and the rice production forecast remains strong at 522,000 metric tons (MT) with the support of ample irrigation water. For rice, strong production is forecast to support a fall of imports to 200,000 MT and a rise of exports to 280,000 MT for MY 2023/24. Wheat and barley crops have hung on well to achieve a near-average estimated production of 25.5 MMT and 10.5 MMT, respectively, after well below average-rainfall during the production season. Wheat exports are forecast to fall 40 percent to 19.0 MMT from a record level in MY 2022/23. Barley exports are forecast at 6.0 MMT, a decline of 23 percent from the prior year, and strong competition from Chinese buyers is expected after China removed tariffs in August 2023.