Good Conditions For Australian Wheat Exports

摘要

Australia is forecast for a second successive bumper wheat crop after the record 26.2 Mt produced this year, according to the International Grains Council. Consequently, the export forecast for the 2011/12 crop year (July-June) is equal to last year's record at 18.5 Mt. Exports in 2010/11 have comfortably outpaced the recent average every month for the last year (see chart, right), and have been running at an annualised pace of 18.8 Mt. This would mean a 4 Mt gain on the previous year's volumes. Based on current sales and production trends, the IGC lifted its forecast for 2011/12 by 1.2 Mt in its last forecast made in late October.