# Australian farmers headed for one of their best production and export years — MercoPress

> ABARES forecasts record Australian agricultural exports of US$75bn for the year to June, driven by a bumper winter crop of 67.3 million tonnes. Good rains at the right time produced the crop, and high commodity prices lifted values. Drought in other major exporters and the war in Ukraine have also supported prices.

- Date: 2023-04-14 · published 2023-04-14T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/36375-australian-farmers-headed-for-one-of-their-best-production-and-export-years
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

A large Australian export crop adds to global wheat and barley supply, which pressures prices. Strong exports also show that high prices are supporting producer returns.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-03-01 | [ABARES says value of production to hit record $66 billion as farmers have their best year yet - ABC News](https://feedsoft.ai/events/48063-abares-says-value-of-production-to-hit-record-66-billion-as-farmers-have-their.md) | +1.8% | -0.5% |
| WHEAT | 2024-06-26 | [Argentine farmers still trust Milei and are hopeful of his electoral promises — MercoPress](https://feedsoft.ai/events/13917-argentine-farmers-still-trust-milei-and-are-hopeful-of-his-electoral-promises.md) | -2.0% | +4.5% |
| WHEAT | 2016-12-06 | [Australia to soar to production records \| Farm Online \| ACT](https://feedsoft.ai/events/73466-australia-to-soar-to-production-records-farm-online-act.md) | +1.2% | -0.3% |
| WHEAT | 2021-11-29 | [Record year for Australian winter crop production: ABARES - Grain Central](https://feedsoft.ai/events/44017-record-year-for-australian-winter-crop-production-abares-grain-central.md) | -1.1% | -3.5% |
| WHEAT | 2024-09-03 | [Australian production estimates rising: ABARES - MarketsFarm](https://feedsoft.ai/events/28284-australian-production-estimates-rising-abares-marketsfarm.md) | +1.6% | +11.6% |

## Sources

- en.mercopress.com: https://en.mercopress.com/2023/04/14/australian-farmers-headed-for-one-of-their-best-production-and-export-years

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