# Farmgate production value for season 2023-24 not so easy to predict - Australasian Farmers' & Dealers' Journal

> Analysts diverge widely on Australia's 2023-24 winter crop farmgate value, with growers planting a near-record area of about 23.48 million hectares. Forecasts hinge on whether El Niño arrives in time to cut yields.

- Date: 2023-05-30 · published 2023-05-30T12:00:00.000Z
- Category: weather · region Australia · magnitude low
- Page: https://feedsoft.ai/events/35903-farmgate-production-value-for-season-2023-24-not-so-easy-to-predict
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Uncertainty over El Niño-driven yield losses keeps Australian wheat and barley prices sensitive to weather updates, with no clear directional signal yet.

## Read by commodity

- WHEAT: neutral
- BARLEY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-08-22 | [Optimistic early estimate for 2019-20 grain season \| The National Tribune](https://feedsoft.ai/events/57535-optimistic-early-estimate-for-2019-20-grain-season-the-national-tribune.md) | +2.1% | +0.5% |
| WHEAT | 2020-05-08 | [National wheat yield forecast predicts spatially variable season - Queensland Alliance for 
Agriculture and Food Innovation - University of Queensland](https://feedsoft.ai/events/53075-national-wheat-yield-forecast-predicts-spatially-variable-season-queensland.md) | -2.3% | -0.9% |
| WHEAT | 2019-10-11 | [Why strong monsoon rains are not necessarily good news for Indian farmers](https://feedsoft.ai/events/56514-why-strong-monsoon-rains-are-not-necessarily-good-news-for-indian-farmers.md) | +4.8% | +2.1% |
| WHEAT | 2021-11-19 | [Afghanistan’s farmers, herders desperate for seed, food and cash \| UN News](https://feedsoft.ai/events/43973-afghanistan-s-farmers-herders-desperate-for-seed-food-and-cash-un-news.md) | +0.5% | -7.2% |
| WHEAT | 2020-12-08 | [OPINION: If corn price stays strong, so will wheat. If not, sell both \| FarmersForum.com](https://feedsoft.ai/events/5275-opinion-if-corn-price-stays-strong-so-will-wheat-if-not-sell-both-farmersforum.md) | -1.5% | +4.4% |

## Sources

- afdj.com.au: https://afdj.com.au/farmgate-production-value-for-season-2023-24-not-so-easy-to-predict/

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