# Lower prices, dry conditions depress farm incomes: ABARES - Grain Central

> ABARES modelling projects Australian broadacre farm incomes falling about 41% in 2023-24 as dry conditions cut crop output, with wheat down 36% and barley down 26%. Oilseed production is forecast to drop 38%.

- Date: 2023-10-09 · published 2023-10-09T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/33571-lower-prices-dry-conditions-depress-farm-incomes-abares-grain-central
- 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

Sharp declines in Australian wheat, barley and oilseed output signal reduced feed and oilseed meal supply from the region, which supports local feed prices.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-09-18 | [Farm production value remains stable despite drought: ABARES - Grain Central](https://feedsoft.ai/events/62989-farm-production-value-remains-stable-despite-drought-abares-grain-central.md) | +1.0% | +8.7% |
| WHEAT | 2020-03-03 | [Wheat prices to increase slightly, coarse grains unchanged: ABARES - Grain Central](https://feedsoft.ai/events/54101-wheat-prices-to-increase-slightly-coarse-grains-unchanged-abares-grain-central.md) | +6.1% | -1.7% |
| WHEAT | 2019-11-08 | [Grains, oilseed prices firmed: FAO-AMIS - Grain Central](https://feedsoft.ai/events/56101-grains-oilseed-prices-firmed-fao-amis-grain-central.md) | +3.0% | +7.4% |
| WHEAT | 2021-05-05 | [Prices higher, corn continues tight: IGC - Grain Central](https://feedsoft.ai/events/47118-prices-higher-corn-continues-tight-igc-grain-central.md) | +5.2% | -1.0% |
| WHEAT | 2018-06-12 | [Dry puts the squeeze on national winter crop prospects: ABARES - Grain Central](https://feedsoft.ai/events/64492-dry-puts-the-squeeze-on-national-winter-crop-prospects-abares-grain-central.md) | -0.9% | -6.9% |

## Sources

- graincentral.com: https://www.graincentral.com/news/lower-prices-dry-conditions-depress-farm-incomes-abares/

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