# Australia raises wheat production forecast by 60,000 tons

> Reuters reports Australia raised its 2024/25 wheat harvest estimate by 60,000t to 31.9 million tons, with the barley estimate cut by about 500,000t and canola raised by 100,000t. The report notes that prices are near four-year lows and that the larger crop will add global supply.

- Date: 2024-12-03 · published 2024-12-03T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/26917-australia-raises-wheat-production-forecast-by-60-000-tons
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

A bigger Australian wheat crop adds to export supply when world prices are already weak, pressuring wheat values. The lower barley forecast offers only modest support for feed barley.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-09-03 | [Australia raises wheat production forecast by 2.7 mln tons](https://feedsoft.ai/events/28282-australia-raises-wheat-production-forecast-by-2-7-mln-tons.md) | +1.6% | +11.6% |
| WHEAT | 2017-09-13 | [France raises again its forecast for soft wheat production](https://feedsoft.ai/events/68911-france-raises-again-its-forecast-for-soft-wheat-production.md) | +0.7% | +4.1% |
| WHEAT | 2025-09-01 | [Australia Raises Wheat Forecast to Fourth Largest After Rain - Bloomberg](https://feedsoft.ai/events/22823-australia-raises-wheat-forecast-to-fourth-largest-after-rain-bloomberg.md) | -0.6% | -1.2% |
| WHEAT | 2025-01-24 | [Australia Wheat Industry Sees Record Production Boom](https://feedsoft.ai/events/26461-australia-wheat-industry-sees-record-production-boom.md) | +3.9% | +4.7% |
| WHEAT | 2025-03-03 | [Australia increases wheat harvest forecast to 34.1 mln tons](https://feedsoft.ai/events/25546-australia-increases-wheat-harvest-forecast-to-34-1-mln-tons.md) | -3.4% | +0.5% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40335637/australia-raises-wheat-production-forecast-by-60000-tons

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.