# Australia set to harvest bigger crops after rains defy El Nino

> Rain in Australia has held up crops despite El Niño, with consultant Episode 3 saying the barley crop could be 2 million tons larger than without the rain. Commonwealth Bank forecasts wheat at 31.4 million tons, barley at 12.7 million and canola at 5.8 million.

- Date: 2024-01-23 · published 2024-01-23T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/32081-australia-set-to-harvest-bigger-crops-after-rains-defy-el-nino
- Commodities: [Barley](https://feedsoft.ai/c/BARLEY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Larger-than-expected Australian barley and wheat crops add exportable supply and pressure prices in competing feed grain markets.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-12-03 | [Australia to Harvest Second Biggest Wheat Crop on Record \| Feed & Grain](https://feedsoft.ai/events/49623-australia-to-harvest-second-biggest-wheat-crop-on-record-feed-and-grain.md) | +9.8% | +9.8% |
| WHEAT | 2023-10-23 | [Rainfall lifts Australia’s wheat harvest by several million tons](https://feedsoft.ai/events/33573-rainfall-lifts-australia-s-wheat-harvest-by-several-million-tons.md) | -2.5% | -4.8% |
| WHEAT | 2020-09-21 | [Australia prepares for bumper harvest as rain boosts NSW winter crops 300% \| Australian economy \| The Guardian](https://feedsoft.ai/events/51092-australia-prepares-for-bumper-harvest-as-rain-boosts-nsw-winter-crops-300.md) | -1.9% | +7.9% |
| WHEAT | 2024-05-31 | [Rain in Australia's parched crop zones boosts harvest outlook - Times of India](https://feedsoft.ai/events/30197-rain-in-australia-s-parched-crop-zones-boosts-harvest-outlook-times-of-india.md) | -5.3% | -10.5% |
| WHEAT | 2021-07-13 | [Aussie winter crop setting up for another big harvest - Grain Central](https://feedsoft.ai/events/45983-aussie-winter-crop-setting-up-for-another-big-harvest-grain-central.md) | +1.3% | -0.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/australia-set-harvest-bigger-crops-after-rains-defy-el-nino-2024-01-23/

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