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The Grain Industry Association of Western Australia says the state harvested 12.45 million tons of wheat, about 1.6 million tons above its December forecast. It also raised its barley estimate by about 800,000 tons to 5.89 million tons and kept canola roughly unchanged at 2.87 million tons.
National production estimates were lifted to between 32 million and 35.5 million tons.
Higher-than-expected Australian supply, combined with weak global demand, is weighing on wheat and barley prices and supports the bearish outlook for export markets.
grainews.caReutersFeb 14, 2025After 1,006 past bearish report events, WHEAT 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.
