# Precipitation improved the prospects for the wheat harvest in Australia

> StoneX raised its forecast for Australia's 2024/25 wheat production from 25 to 30 million tonnes after rains improved conditions. USDA had estimated 26 million tonnes in July. Soil moisture remains low in parts of Victoria, South Australia and Western Australia.

- Date: 2024-08-02 · published 2024-08-02T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/28738-precipitation-improved-the-prospects-for-the-wheat-harvest-in-australia
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A bigger Australian crop increases export availability and adds bearish pressure on wheat prices, with dry patches a residual risk.

## Read by commodity

- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-11-26 | [Improved crop condition in the US and accelerated harvest in Australia and Argentina increase pressure on wheat prices](https://feedsoft.ai/events/11780-improved-crop-condition-in-the-us-and-accelerated-harvest-in-australia-and.md) | -0.1% | +2.1% |
| WHEAT | 2025-10-20 | [Australia’s wheat production outlook improves as harvest begins - AgCanada](https://feedsoft.ai/events/22345-australia-s-wheat-production-outlook-improves-as-harvest-begins-agcanada.md) | +0.7% | -2.8% |
| WHEAT | 2025-02-06 | [Australia harvested 2 million tons of wheat more than forecast in 2024/25 MY](https://feedsoft.ai/events/26019-australia-harvested-2-million-tons-of-wheat-more-than-forecast-in-2024-25-my.md) | -0.7% | -3.6% |
| 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 | 2023-01-06 | [Australia set for record wheat crop as harvest wraps up - traders \| The Western Producer](https://feedsoft.ai/events/37740-australia-set-for-record-wheat-crop-as-harvest-wraps-up-traders-the-western.md) | -2.7% | -3.0% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/precipitation-improved-the-prospects-for-the-wheat-harvest-in-australia/

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