# ABARES lifts forecasts for all major crops 02.03.2022 - UkrAgroConsult

> ABARES lifted its forecasts for all major Australian crops in its March report, with wheat at 36.3 Mt, barley at 13.7 Mt, canola at 6.4 Mt and sorghum at 2.6 Mt. Summer crop prospects were described as excellent after favourable rainfall in Queensland and northern New South Wales.

- Date: 2022-03-02 · published 2022-03-02T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/42225-abares-lifts-forecasts-for-all-major-crops-02-03-2022-ukragroconsult
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

Upward revisions across grains and sorghum increase exportable supply from Australia, adding downside pressure on feed grain prices. Favourable autumn rainfall outlook supports further summer crop yields.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bearish ▼
- SORGHUM: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-02-28 | [ABARES lifts forecasts for all major crops - Grain Central](https://feedsoft.ai/events/42659-abares-lifts-forecasts-for-all-major-crops-grain-central.md) | +12.1% | +26.0% |
| WHEAT | 2021-11-30 | [ABARES lifts forecasts for wheat, barley, canola 30.11.2021 - UkrAgroConsult](https://feedsoft.ai/events/44016-abares-lifts-forecasts-for-wheat-barley-canola-30-11-2021-ukragroconsult.md) | -1.0% | -3.4% |
| WHEAT | 2022-01-28 | [EU cuts 2021/22 wheat crop forecast, keeps export outlook 28.01.2022 - UkrAgroConsult](https://feedsoft.ai/events/43077-eu-cuts-2021-22-wheat-crop-forecast-keeps-export-outlook-28-01-2022.md) | -1.8% | +2.3% |
| WHEAT | 2021-06-11 | [Strategie Grains raises EU 2021/22 wheat crop, export forecasts - UkrAgroConsult](https://feedsoft.ai/events/46522-strategie-grains-raises-eu-2021-22-wheat-crop-export-forecasts-ukragroconsult.md) | +5.0% | -5.4% |
| 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% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/abares-lifts-forecasts-for-all-major-crops/

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