# Australian wheat market updates | Queensland Country Life | QLD

> Australia shipped 2.7 Mt of wheat in January, the most since May 2023, with about 1 Mt going to China. Local wheat futures nonetheless fell to their lowest for the nearby month since July 2021 as export competition weighed. ABARES also raised its sorghum estimate to 2.0 Mt.

- Date: 2024-03-17 · published 2024-03-17T12:00:00.000Z
- Category: trade · region Australia · magnitude low
- Page: https://feedsoft.ai/events/31175-australian-wheat-market-updates-queensland-country-life-qld
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

Strong export volumes did not stop Australian wheat prices from falling, signalling heavy global competition. Higher sorghum output adds to supply and pressures sorghum prices.

## Read by commodity

- WHEAT: bearish ▼
- SORGHUM: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-01-04 | [Farming News - Weekly Wheat Market Update](https://feedsoft.ai/events/61174-farming-news-weekly-wheat-market-update.md) | +0.2% | +3.1% |
| WHEAT | 2025-05-27 | [Weak Chinese demand leaves Australia with too much wheat \| Reuters](https://feedsoft.ai/events/24704-weak-chinese-demand-leaves-australia-with-too-much-wheat-reuters.md) | +2.2% | -0.4% |
| WHEAT | 2020-12-09 | [What will happen to Australian barley exports? Grain Market Daily \| AHDB](https://feedsoft.ai/events/49705-what-will-happen-to-australian-barley-exports-grain-market-daily-ahdb.md) | -1.1% | +4.5% |
| WHEAT | 2024-08-05 | [eFeedLink - Australian wheat production boosted by rainfall, but Chinese demand may lag](https://feedsoft.ai/events/28739-efeedlink-australian-wheat-production-boosted-by-rainfall-but-chinese-demand.md) | +4.7% | -2.4% |
| WHEAT | 2024-08-05 | [Australia: China missed as wheat harvest nears: AGIC](https://feedsoft.ai/events/28740-australia-china-missed-as-wheat-harvest-nears-agic.md) | +4.7% | -2.4% |

## Sources

- queenslandcountrylife.com.au: https://www.queenslandcountrylife.com.au/story/8551608/australian-wheat-market-updates/

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