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Australia raised its 2024/25 wheat estimate by about 2.2 million tonnes, to 34.1 million, and lifted its barley and canola estimates after harvest results beat expectations. ABARES also said 2025/26 wheat output would fall but remain above the long-term average.
The upgrade follows a series of upward revisions during the season.
The larger harvest eases global wheat supply concerns and adds pressure on export prices. Barley supplies also improve, which can cap feed grain values.
tradingview.comMar 3, 2025After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
