# Australian wheat holds its ground amid Black Sea return to Asia | S&P Global

> S&P Global reports that Australian wheat has held firm as Black Sea supplies slowly return to Asia after the Black Sea Grain Initiative. ABARES estimates a record 2022-23 Australian wheat crop of 39.2 million mt, up 7.7%. Buyers have largely avoided Black Sea supplies due to financing and inspection concerns.

- Date: 2023-03-20 · published 2023-03-20T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/36898-australian-wheat-holds-its-ground-amid-black-sea-return-to-asia-s-and-p-global
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A record Australian crop gives Asian buyers ample supply, limiting upside in wheat prices even as Black Sea flows recover. Competition between the two origins caps wheat feed demand.

## Read by commodity

- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-01-15 | [Wasde: Black Sea revisions add 2 million tonnes to global wheat balances - Fastmarkets](https://feedsoft.ai/events/32183-wasde-black-sea-revisions-add-2-million-tonnes-to-global-wheat-balances.md) | +0.9% | -1.1% |
| WHEAT | 2022-12-19 | [Commodities 2023: Australia's record wheat crop to dominate Asia demand in H1](https://feedsoft.ai/events/38164-commodities-2023-australia-s-record-wheat-crop-to-dominate-asia-demand-in-h1.md) | -1.5% | -5.0% |
| WHEAT | 2022-08-15 | [WASDE adds 3Mt to Australian wheat estimate - Grain Central](https://feedsoft.ai/events/40015-wasde-adds-3mt-to-australian-wheat-estimate-grain-central.md) | -1.7% | -10.8% |
| WHEAT | 2025-01-24 | [Australia Wheat Industry Sees Record Production Boom](https://feedsoft.ai/events/26461-australia-wheat-industry-sees-record-production-boom.md) | +3.9% | +4.7% |
| WHEAT | 2021-02-15 | [ABARES puts Australian wheat crop at record 33.3Mt - Grain Central](https://feedsoft.ai/events/48594-abares-puts-australian-wheat-crop-at-record-33-3mt-grain-central.md) | +9.4% | +9.0% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/blog/agriculture/032023-australian-wheat-holds-its-ground-amid-black-sea-return-to-asia

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