# Big grain production numbers flagged  | Farm Online | ACT

> IKON Commodities forecasts Australia's 2021-22 wheat crop at 29.5 million tonnes, down from 34.8 million last year but above long-term averages, and raised its estimate by 1 million tonnes. It sees canola at 4.7 million tonnes, one of the largest crops on record, and barley at 10.5 million tonnes. The USDA's 27 million tonne wheat estimate is also described as high for a typically conservative forecaster.

- Date: 2021-05-28 · published 2021-05-28T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/47053-big-grain-production-numbers-flagged-farm-online-act
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

A large Australian wheat and barley crop adds export supply in the new marketing year, which tends to weigh on world feed grain prices. Early forecasts can still change with the season.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-06-09 | [ABARES flags big year for grain growers  \| Farm Online \| ACT](https://feedsoft.ai/events/46545-abares-flags-big-year-for-grain-growers-farm-online-act.md) | +5.6% | -5.2% |
| WHEAT | 2017-08-15 | [Industry doubts on high USDA grain production figures  \| Farm Online \| ACT](https://feedsoft.ai/events/69395-industry-doubts-on-high-usda-grain-production-figures-farm-online-act.md) | -4.4% | +1.1% |
| WHEAT | 2016-12-06 | [Australia to soar to production records \| Farm Online \| ACT](https://feedsoft.ai/events/73466-australia-to-soar-to-production-records-farm-online-act.md) | +1.2% | -0.3% |
| WHEAT | 2019-03-05 | [Wheat production to rise if break arrives \| Farm Online \| ACT](https://feedsoft.ai/events/60037-wheat-production-to-rise-if-break-arrives-farm-online-act.md) | -1.0% | -1.8% |
| WHEAT | 2021-09-08 | [ABARES makes massive increase in production forecast \| Farm Online \| ACT](https://feedsoft.ai/events/45028-abares-makes-massive-increase-in-production-forecast-farm-online-act.md) | +2.2% | +5.0% |

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/7274054/big-grain-production-numbers-flagged/

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