# ABARES crop report forecasts record production - Mecardo

> Mecardo's analysis of the ABARES December report said national wheat output was forecast at 36.566 million tonnes, up 13.4% on September. Barley was forecast at 12.25 million tonnes, up 9% on the September estimate but still down 3.6% year on year. Yield gains in South Australia and Victoria offset a downgrade in New South Wales.

- Date: 2022-12-07 · published 2022-12-07T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/38217-abares-crop-report-forecasts-record-production-mecardo
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

A larger wheat crop and a barley crop that still exceeds the prior estimate add exportable supply, which weighs on global feed grain and wheat prices.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-03-09 | [Record crop production: ABARES](https://feedsoft.ai/events/42226-record-crop-production-abares.md) | -3.1% | +3.6% |
| WHEAT | 2021-09-07 | [ABARES forecasts record winter crop production - Beef Central](https://feedsoft.ai/events/45029-abares-forecasts-record-winter-crop-production-beef-central.md) | +1.8% | +5.2% |
| WHEAT | 2022-09-13 | [Production forecasts on the rise - Mecardo](https://feedsoft.ai/events/39539-production-forecasts-on-the-rise-mecardo.md) | +4.3% | -8.0% |
| WHEAT | 2016-12-07 | [Winter crop production to hit record high: ABARES](https://feedsoft.ai/events/73447-winter-crop-production-to-hit-record-high-abares.md) | +1.1% | +0.2% |
| 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% |

## Sources

- mecardo.com.au: https://mecardo.com.au/abares-crop-report-forecasts-record-production/

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