# Good yields after a challenging year - Mecardo

> ABARES' December crop report left Australian forecasts largely unchanged, with wheat nudged up 0.3% to 25.45 MMT and barley raised 3% to 10.76 MMT. Canola was lifted 7% to 5.52 MMT, the third highest on record despite a drier season.

- Date: 2024-01-16 · published 2024-01-16T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/32080-good-yields-after-a-challenging-year-mecardo
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Stable wheat and barley estimates and a strong canola crop mean ample Australian feed supply, which limits upside for feed grain prices.

## Read by commodity

- WHEAT: neutral
- BARLEY: neutral
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-05-27 | [EU crop yield forecasts remain above the 5-year average despite challenging weather conditions - Joint Research Centre](https://feedsoft.ai/events/30174-eu-crop-yield-forecasts-remain-above-the-5-year-average-despite-challenging.md) | -7.8% | -17.5% |
| WHEAT | 2025-07-14 | [A marginally bullish WASDE brings no gains - Mecardo](https://feedsoft.ai/events/23720-a-marginally-bullish-wasde-brings-no-gains-mecardo.md) | -1.6% | -2.0% |
| 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 | 2018-03-26 | [Diversity of El Niño Variability Makes Prediction Challenging - Eos](https://feedsoft.ai/events/65928-diversity-of-el-nino-variability-makes-prediction-challenging-eos.md) | +0.7% | +4.0% |
| WHEAT | 2026-05-13 | [2025 NASS County Corn, Soybean, and Winter Wheat Yields](https://feedsoft.ai/events/12994-2025-nass-county-corn-soybean-and-winter-wheat-yields.md) | +0.9% | -4.2% |

## Sources

- mecardo.com.au: https://mecardo.com.au/good-yields-after-a-challenging-year/

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