# ABARES lowers forecast of Australia's 2017-18 wheat output to 20.3 mil mt-internal-News-APIs-Intermediates-NaturalExtracts-Fine Chemicals-Pharmaceutical Excipients-Pharmaceutical Equipment-Medicinal package-cphibiz

> ABARES cut its 2017-18 Australian wheat forecast by 1.3 million tonnes to 20.27 million, down 42% year on year. The biggest cut is in New South Wales, to 4.785 million tonnes, and rain during harvest is likely to hurt grain quality.

- Date: 2017-12-07 · published 2017-12-07T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/67434-abares-lowers-forecast-of-australia-s-2017-18-wheat-output-to-20-3-mil-mt
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

A lower Australian wheat crop with quality risk tightens export supply and supports wheat prices, especially for higher-protein grades.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-06-18 | [Australia lowers wheat export forecast \| 2019-06-18  \| World Grain](https://feedsoft.ai/events/58550-australia-lowers-wheat-export-forecast-2019-06-18-world-grain.md) | +7.1% | -3.2% |
| WHEAT | 2019-09-10 | [ABARES crop report forecasts another poor harvest for Australia's grain growers - ABC News](https://feedsoft.ai/events/57042-abares-crop-report-forecasts-another-poor-harvest-for-australia-s-grain-growers.md) | +2.6% | +1.0% |
| WHEAT | 2017-04-24 | [Australian 2017 wheat crop forecast to reach 24 million tonnes: USDA report - Grain Central](https://feedsoft.ai/events/71469-australian-2017-wheat-crop-forecast-to-reach-24-million-tonnes-usda-report.md) | +2.4% | +1.0% |
| WHEAT | 2017-04-25 | [FAS USDA forecasts sharp decline of the wheat and barley crops in Australia](https://feedsoft.ai/events/71463-fas-usda-forecasts-sharp-decline-of-the-wheat-and-barley-crops-in-australia.md) | +3.6% | +2.1% |
| WHEAT | 2020-02-18 | [Australia wheat output revised lower \| 2020-02-18  \| World Grain](https://feedsoft.ai/events/54572-australia-wheat-output-revised-lower-2020-02-18-world-grain.md) | -0.9% | -0.1% |

## Sources

- cphibiz.com: http://www.cphibiz.com/news/show.php?itemid=13953

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