# ABARES Cuts Crop Forecasts Again - Sharecafe

> ABARES cut its 2018-19 Australian wheat estimate to 16.95 million tonnes from 19.1 million in September, lowest since the 2008 drought. Barley is forecast down 18 per cent to 7.3 million tonnes and canola down 39 per cent, with world wheat prices already at two-month highs.

- Date: 2018-12-04 · published 2018-12-04T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/61533-abares-cuts-crop-forecasts-again-sharecafe
- 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 major exporter's shortfall reduces global wheat and barley export supply, which supports feed grain values and could lift the cost of wheat-based rations.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-09-11 | [Dry cuts ABARES crop forecast to 36m tonnes  \| ACT](https://feedsoft.ai/events/68920-dry-cuts-abares-crop-forecast-to-36m-tonnes-act.md) | +4.2% | +2.5% |
| WHEAT | 2023-07-14 | [Strategie Grains cuts EU cereal crop forecasts again on weather toll](https://feedsoft.ai/events/34979-strategie-grains-cuts-eu-cereal-crop-forecasts-again-on-weather-toll.md) | +3.5% | +3.5% |
| WHEAT | 2017-09-18 | [ABARES cuts production forecasts

 \| Queensland Country Life \| QLD](https://feedsoft.ai/events/68921-abares-cuts-production-forecasts-queensland-country-life-qld.md) | -0.2% | +3.1% |
| WHEAT | 2018-12-10 | [​Crop forecasts slashed in ABARES December report​ \| Queensland Country Life \| QLD](https://feedsoft.ai/events/61532-crop-forecasts-slashed-in-abares-december-report-queensland-country-life-qld.md) | +0.8% | +1.7% |
| WHEAT | 2017-09-12 | [Forecast decrease for winter crop production: ABARES - Grain Central](https://feedsoft.ai/events/68910-forecast-decrease-for-winter-crop-production-abares-grain-central.md) | +1.0% | +4.5% |

## Sources

- sharecafe.com.au: https://www.sharecafe.com.au/2018/12/05/abares-cuts-crop-forecasts-again/

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