# Australia raises wheat production forecast by 2.7 mln tons

> Australia's government raised its wheat production forecast by 2.7 million tonnes to 31.8 million tonnes after rains in key growing regions. Barley was raised by about 700,000 tonnes to 12.2 million tonnes, and canola by 100,000 tonnes to 5.5 million tonnes.

- Date: 2024-09-03 · published 2024-09-03T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/28282-australia-raises-wheat-production-forecast-by-2-7-mln-tons
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Australia is the third-largest wheat exporter, so a bigger crop adds to global supply when prices are already near four-year lows, which is bearish for wheat and barley.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-12-03 | [Australia raises wheat production forecast by 60,000 tons](https://feedsoft.ai/events/26917-australia-raises-wheat-production-forecast-by-60-000-tons.md) | +1.1% | +2.7% |
| 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% |
| 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% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/australia-raises-wheat-production-forecast-by-2-7-mln-tons/

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