# Farm production tipped to break record $78b this financial year

> ABARES raised its forecast for Australian farm production to a record A$78 billion for the current financial year, with exports also at a record A$61 billion. Rain and floods in NSW and Queensland are expected to mainly downgrade crop quality rather than volume.

- Date: 2022-01-01 · published 2022-01-01T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/43535-farm-production-tipped-to-break-record-78b-this-financial-year
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Poor conditions in Canada, Russia, Ukraine, Brazil, Argentina and the US have lifted grain prices, and quality downgrades may push some wheat and barley into feed channels.

## Read by commodity

- WHEAT: neutral
- BARLEY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-10-11 | [Most of record production being used](https://feedsoft.ai/events/44499-most-of-record-production-being-used.md) | +2.0% | +13.2% |
| WHEAT | 2019-03-04 | [Farm production expected to fall due to drought \| The National Tribune](https://feedsoft.ai/events/60045-farm-production-expected-to-fall-due-to-drought-the-national-tribune.md) | +0.7% | +5.2% |
| WHEAT | 2022-02-28 | [Ag's $81-billion record-breaking year off the back of rising commodities: ABARES \| Farm Online \| ACT](https://feedsoft.ai/events/42661-ag-s-81-billion-record-breaking-year-off-the-back-of-rising-commodities-abares.md) | +12.1% | +26.0% |
| WHEAT | 2017-12-17 | [Foodgrain production to remain at last year's record level in 2018 \| Commodity - Food & Edible Oils - Business Standard](https://feedsoft.ai/events/67456-foodgrain-production-to-remain-at-last-year-s-record-level-in-2018-commodity.md) | +0.3% | +0.8% |
| WHEAT | 2026-09-02 | [National winter crop production forecast to fall, still the fourth-largest on record. - ABC listen](https://feedsoft.ai/events/17452-national-winter-crop-production-forecast-to-fall-still-the-fourth-largest-on.md) | +0.7% | +2.9% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2021-12-07/abares-tips-record-breaking-year-for-australian-farm-production/100676500

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