# Shrinking crop expectations driving local markets | Queensland Country Life | QLD

> Local Australian grain markets eased as new-crop supplies arrived, with stockfeed wheat down $5 to $475 a tonne delivered Darling Downs and feed barley steady at $475. Global wheat futures fell 4% on ample Russian supplies and slow export sales, while private forecasters see Australia's wheat crop at 22-23 million tonnes.

- Date: 2023-10-01 · published 2023-10-01T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/33575-shrinking-crop-expectations-driving-local-markets-queensland-country-life-qld
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Lower global wheat futures and ample Russian supply weigh on feed wheat prices, although shrinking Australian crop estimates limit the downside.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: neutral

## Sources

- queenslandcountrylife.com.au: https://www.queenslandcountrylife.com.au/story/8362858/crop-production-estimates-shrinking/

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