# National crop defies the odds and remains on track for average yields | Farm Online | ACT

> Australian Crop Forecasters puts the national wheat crop at 27.9 million tonnes, slightly above average but likely to be trimmed due to dry conditions in northern NSW, western Australia and hot weather in Queensland. The Australian Oilseeds Federation forecasts canola at 5.59 million tonnes, down 29% from last year's record but 35% above the 10-year average.

- Date: 2023-08-16 · published 2023-08-16T12:00:00.000Z
- Category: weather · region Australia · magnitude low
- Page: https://feedsoft.ai/events/34523-national-crop-defies-the-odds-and-remains-on-track-for-average-yields-farm
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Expected cuts to Australian wheat and a sharply smaller canola crop tighten supplies for export markets, supporting wheat and canola meal prices.

## Read by commodity

- WHEAT: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-07-13 | [NSW big wet to be an X-factor in national crop yields \| Farm Online \| ACT](https://feedsoft.ai/events/40445-nsw-big-wet-to-be-an-x-factor-in-national-crop-yields-farm-online-act.md) | +8.2% | +8.0% |
| WHEAT | 2023-11-07 | [Frost knocks tonnes off national crop estimates \| Farm Online \| ACT](https://feedsoft.ai/events/33122-frost-knocks-tonnes-off-national-crop-estimates-farm-online-act.md) | -1.8% | +2.1% |
| WHEAT | 2019-10-22 | [Grains analysts cut further winter crop tonnage in race to the bottom \| Farm Online \| ACT](https://feedsoft.ai/events/56531-grains-analysts-cut-further-winter-crop-tonnage-in-race-to-the-bottom-farm.md) | -0.6% | +5.5% |
| WHEAT | 2017-10-14 | [Australian crop limps towards the line \| Farm Online \| ACT](https://feedsoft.ai/events/68400-australian-crop-limps-towards-the-line-farm-online-act.md) | -0.4% | -3.9% |
| WHEAT | 2018-12-06 | [Aussie crop the smallest in a decade \| Farm Online \| ACT](https://feedsoft.ai/events/61535-aussie-crop-the-smallest-in-a-decade-farm-online-act.md) | -0.1% | +1.5% |

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/8310215/national-crop-hangs-in-there-as-critical-late-august-looms/

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