# GPA CAUTIOUS ON NEW CROP FORECASTS

> Grain Producers Australia responded cautiously to the ABARES June crop forecasts, which show winter crop output rising 9% to 51.3Mt. The group said rainfall has been below average in western Victoria, South Australia and Western Australia, where soil moisture remains low.

- Date: 2024-06-04 · published 2024-06-04T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/29707-gpa-cautious-on-new-crop-forecasts
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

The reaction highlights that the bigger crop forecast depends on rainfall in the west, so the supply outlook could still shift and affect feed grain prices.

## Read by commodity

- WHEAT: neutral
- BARLEY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-04-02 | [Long term crop forecasts - Mecardo](https://feedsoft.ai/events/30664-long-term-crop-forecasts-mecardo.md) | +3.8% | +1.2% |
| WHEAT | 2016-08-15 | [USDA adjusts forecasts based on record corn, soybean crops](https://feedsoft.ai/events/9949-usda-adjusts-forecasts-based-on-record-corn-soybean-crops.md) | -0.3% | -2.5% |
| WHEAT | 2024-09-01 | [Preseason maize and wheat yield forecasts for early warning of crop failure](https://feedsoft.ai/events/28671-preseason-maize-and-wheat-yield-forecasts-for-early-warning-of-crop-failure.md) | +3.6% | +14.4% |
| WHEAT | 2024-01-02 | [COCERAL unveils 2024 crop forecast \| Miller Magazine](https://feedsoft.ai/events/32063-coceral-unveils-2024-crop-forecast-miller-magazine.md) | -2.8% | -2.7% |
| WHEAT | 2026-09-02 | [National winter crop production forecast to fall, still the fourth-largest on record. - ABC listen](https://feedsoft.ai/events/17452-national-winter-crop-production-forecast-to-fall-still-the-fourth-largest-on.md) | +0.7% | +2.9% |

## Sources

- grainproducers.com.au: https://www.grainproducers.com.au/post/gpa-cautious-on-new-crop-forecasts

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