# Big numbers for Aussie crop | Farm Online | ACT

> Ikon Commodities estimates Australia's winter crop at more than 50 million tonnes, with canola at a record 5.2 million tonnes. The USDA raised its Australian wheat estimate to 30 million tonnes, up 5.3% on its previous report, citing abundant precipitation.

- Date: 2021-08-23 · published 2021-08-23T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/45532-big-numbers-for-aussie-crop-farm-online-act
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

A large Australian harvest adds export supply just as Canadian and US Pacific Northwest shortfalls are tightening markets, which weighs on wheat, barley and canola prices. The USDA upgrade confirms the bearish outlook.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-05-09 | [Banks note surprise good start for Aussie croppers \| Farm Online \| ACT](https://feedsoft.ai/events/35900-banks-note-surprise-good-start-for-aussie-croppers-farm-online-act.md) | -0.5% | -7.7% |
| WHEAT | 2016-11-01 | [Near record crop beckons \| Farm Online \| ACT](https://feedsoft.ai/events/73815-near-record-crop-beckons-farm-online-act.md) | +0.2% | -3.5% |
| WHEAT | 2016-11-22 | [Crop expected to nudge 50mt \| Farm Online \| ACT](https://feedsoft.ai/events/73810-crop-expected-to-nudge-50mt-farm-online-act.md) | -2.8% | +0.7% |
| WHEAT | 2020-10-13 | [Crop set to be one of the biggest on record as headers start to roll \| Farm Online \| ACT](https://feedsoft.ai/events/50602-crop-set-to-be-one-of-the-biggest-on-record-as-headers-start-to-roll-farm.md) | +1.8% | -0.1% |
| WHEAT | 2021-07-13 | [Big grain production year on the cards \| Farm Online \| ACT](https://feedsoft.ai/events/46014-big-grain-production-year-on-the-cards-farm-online-act.md) | +1.3% | -0.4% |

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/7397834/big-numbers-for-aussie-crop/

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