# ABARES ratchets up forecasts | Farm Online | ACT

> ABARES raised its national wheat forecast by 2.3 million tonnes to 28.9 million tonnes, the largest since 2016-17. The increase is driven mainly by a 2 million tonne lift in NSW wheat prospects.

- Date: 2020-09-09 · published 2020-09-09T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/51088-abares-ratchets-up-forecasts-farm-online-act
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A third-largest-on-record Australian wheat crop expands export availability and adds downward pressure on wheat prices in export markets.

## Read by commodity

- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| WHEAT | 2024-08-22 | [USDA forecasts Australia's wheat crop to be up year on year \| Farm Online \| ACT](https://feedsoft.ai/events/28737-usda-forecasts-australia-s-wheat-crop-to-be-up-year-on-year-farm-online-act.md) | -0.8% | +2.8% |
| 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 | 2024-09-07 | [Australian winter crop set for 55m tonne boost says ABARES \| Farm Online \| ACT](https://feedsoft.ai/events/28281-australian-winter-crop-set-for-55m-tonne-boost-says-abares-farm-online-act.md) | +1.5% | +11.0% |
| WHEAT | 2023-03-07 | [Australia sets new national crop record  \| Farm Online \| ACT](https://feedsoft.ai/events/36803-australia-sets-new-national-crop-record-farm-online-act.md) | -1.2% | -4.5% |

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/6916987/abares-ratchets-up-forecasts/

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