◂ Event Timeline

May 3, 2024REPORTAustralia

Australia’s wheat harvest and exports will decline next season

USDA's FAS forecasts Australia's 2024 gross wheat harvest at 25.8 million tons, slightly lower than last year, with below-average yields. Wheat exports for the next season could fall to 17.5 million tons, down 2.5 million tons, while barley exports may drop to 5.0 million tons.

WHY IT MATTERS

Lower Australian wheat and barley export availability tightens global supply for feed grains, supporting prices for wheat and barley.

AFFECTSWheat (SRW)▲Barley▲

SOURCE
ukragroconsult.comMay 3, 2024

Price reaction & history

Wheat (SRW)▲bullishSO FAR1d +0.6%5d +2.0%20d +14.4%

After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.

Apr 30, 2026Australia’s wheat production may decline significantly-3.2%
Sep 19, 2024France lowers soft wheat harvest and export forecasts+11.4%
Apr 30, 2025Australia poised for strong wheat,barley harvests despite dry ...+2.6%
Apr 25, 2017FAS USDA forecasts sharp decline of the wheat and barley crops in Australia+3.6%
Feb 18, 2020Australia says 2019/20 wheat harvest drops to lowest in 12 years-0.9%

Barley▲bullish

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.

Wheat (SRW) WHEAT · GP ▸

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Barley BARLEY · GP ▸

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