# Basis Commodities – Australian Crop Update – Week 8, 2023

> Australian domestic grain markets firmed as buyers competed for farmer offers to fill export positions. Wheat, barley and canola exports ran at record pace, with December 2022 major grain exports above 4.6 million tonnes. ABARES is expected to lift its wheat crop forecast to 38 million tonnes or more in March.

- Date: 2023-02-21 · published 2023-02-21T12:00:00.000Z
- Category: trade · region Australia · magnitude low
- Page: https://feedsoft.ai/events/37305-basis-commodities-australian-crop-update-week-8-2023
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Strong export pace and firm domestic bids support Australian grain prices in the near term. Larger crop estimates could ease that support later in the season.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-12-17 | [Commodities Report Hensall Co-op](https://feedsoft.ai/events/12110-commodities-report-hensall-co-op.md) | -0.4% | +2.6% |
| WHEAT | 2023-10-31 | [Exclusive: China snaps up Australian, French wheat as crop damage spurs buying spree](https://feedsoft.ai/events/33646-exclusive-china-snaps-up-australian-french-wheat-as-crop-damage-spurs-buying.md) | -1.7% | -1.4% |
| WHEAT | 2018-03-15 | [Black Sea competition impacting Australian wheat prices: Rabo - Grain Central](https://feedsoft.ai/events/66043-black-sea-competition-impacting-australian-wheat-prices-rabo-grain-central.md) | -1.7% | -0.1% |
| WHEAT | 2025-05-09 | [EXCLUSIVE: China buys Canadian, Australian wheat as heat hits crop, traders say \| Reuters](https://feedsoft.ai/events/24710-exclusive-china-buys-canadian-australian-wheat-as-heat-hits-crop-traders-say.md) | -0.1% | -2.5% |
| WHEAT | 2024-02-10 | [Wheat exports down, China hungry for Australian barley](https://feedsoft.ai/events/31616-wheat-exports-down-china-hungry-for-australian-barley.md) | -4.8% | -1.5% |

## Sources

- basiscommodities.com: https://www.basiscommodities.com/basis-commodities-australian-crop-update-week-8-2023

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