# Basis Commodities – Australian Crop Update – Week 49

> Basis Commodities' weekly crop update reported Australian harvest progress, with Queensland over 80% harvested and New South Wales near 33%. Grain quality is highly variable, and yields in Western Australia are very good. The firm said the global wheat market has weakened and that new-crop prices reflect that softness.

- Date: 2022-12-06 · published 2022-12-06T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/38216-basis-commodities-australian-crop-update-week-49
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Strong Western Australian yields and a weaker global market add to export supply and press wheat values, while the quality mix affects which grades can command premiums.

## Read by commodity

- WHEAT: bearish ▼

## Sources

- basiscommodities.com: https://www.basiscommodities.com/basis-commodities-australian-crop-update-week-49

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