# Forecast - Farmgate value to rise 7% to $65 billion I Australian Rural & Regional News

> ABARES forecasts Australian farmgate production will rise 7% to $65 billion in 2020/21, supported by the second-largest winter crop and a promising rainfall outlook. It also expects exports to fall 7% to $44.7 billion, as residual drought effects and trade uncertainty weigh on values.

- Date: 2021-01-09 · published 2021-01-09T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/49104-forecast-farmgate-value-to-rise-7-to-65-billion-i-australian-rural-and-regional
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A near record Australian winter crop adds to global wheat supply, which is mildly bearish for prices, while lower export values point to softer demand pressure.

## Read by commodity

- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-02-28 | [ABARES forecasts value of Australian agriculture to hit $81b in 2021-22, a new record - ABC News](https://feedsoft.ai/events/42662-abares-forecasts-value-of-australian-agriculture-to-hit-81b-in-2021-22-a-new.md) | +12.1% | +26.0% |
| WHEAT | 2022-07-27 | [Global headwinds put pressure on local agri sector I Australian Rural & Regional News](https://feedsoft.ai/events/40540-global-headwinds-put-pressure-on-local-agri-sector-i-australian-rural-and.md) | +4.5% | +0.2% |
| WHEAT | 2024-09-03 | [Australia raises wheat production forecast by 2.7 mln tons](https://feedsoft.ai/events/28282-australia-raises-wheat-production-forecast-by-2-7-mln-tons.md) | +1.6% | +11.6% |
| WHEAT | 2024-07-10 | [Australian winter crops forecast to increase by 9% in 2024/25 \| Farm Weekly \| WA](https://feedsoft.ai/events/29199-australian-winter-crops-forecast-to-increase-by-9-in-2024-25-farm-weekly-wa.md) | -4.1% | -2.7% |
| WHEAT | 2019-06-11 | [Australia's winter crop forecast to jump 20 per cent says national forecaster ABARES - ABC News](https://feedsoft.ai/events/58544-australia-s-winter-crop-forecast-to-jump-20-per-cent-says-national-forecaster.md) | -4.7% | -8.3% |

## Sources

- arr.news: https://arr.news/2021/01/09/forecast-farmgate-value-to-rise-7-to-65-billion/

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