# Australia Plays Big in Asian Wheat Market 28.10.2022 - UkrAgroConsult

> USDA's FAS in Canberra forecasts Australia's 2022/23 wheat crop at 31 million tonnes, 25% above the 10-year average and 1 million tonnes above the official USDA figure. Eastern states have had above-average rain while Western Australia's soil moisture is below average.

- Date: 2022-10-28 · published 2022-10-28T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/39072-australia-plays-big-in-asian-wheat-market-28-10-2022-ukragroconsult
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A sizeable Australian wheat crop adds to export competition in Asian markets, which tends to cap prices for Black Sea and US wheat sold into the same buyers.

## Read by commodity

- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-09-08 | [Australia to harvest another bumper wheat crop 08.09.2021 - UkrAgroConsult](https://feedsoft.ai/events/45033-australia-to-harvest-another-bumper-wheat-crop-08-09-2021-ukragroconsult.md) | +2.2% | +5.0% |
| WHEAT | 2021-12-14 | [Wheat tightness to ease 14.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/43543-wheat-tightness-to-ease-14-12-2021-ukragroconsult.md) | +3.7% | +7.7% |
| WHEAT | 2022-03-09 | [Soybeans close lower. Wednesday, March 9, 2022 10.03.2022 - UkrAgroConsult](https://feedsoft.ai/events/42239-soybeans-close-lower-wednesday-march-9-2022-10-03-2022-ukragroconsult.md) | -3.1% | +3.6% |
| WHEAT | 2022-01-13 | [Wheat Drops With U.S. Forecasting Bigger Global Reserves 13.01.2022 - UkrAgroConsult](https://feedsoft.ai/events/43104-wheat-drops-with-u-s-forecasting-bigger-global-reserves-13-01-2022.md) | +4.8% | +2.4% |
| WHEAT | 2022-02-04 | [India’s 2021-22 wheat output seen rising on higher yields 04.02.2022 - UkrAgroConsult](https://feedsoft.ai/events/42692-india-s-2021-22-wheat-output-seen-rising-on-higher-yields-04-02-2022.md) | -1.2% | +14.0% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/australia-plays-big-in-asian-wheat-market/

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