# ABARES slashes its grain estimate | VIC

> ABARES cut its 2017 Australian wheat forecast to 21.6 Mt, down 2.5 Mt from June and 38% below last year's record. Queensland conditions were the main drag, partly offset by favourable weather in Victoria, South Australia and southern Western Australia.

- Date: 2017-09-19 · published 2017-09-19T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/68914-abares-slashes-its-grain-estimate-vic
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A further downgrade to Australian wheat supply adds to export tightness, though the USDA noted global grain supplies remain ample, limiting the price gain.

## Read by commodity

- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-11-17 | [The WASDE Slashes Global Grains Stock Estimates \| CZ app](https://feedsoft.ai/events/50094-the-wasde-slashes-global-grains-stock-estimates-cz-app.md) | -3.0% | +4.3% |
| WHEAT | 2018-09-11 | [ABARES cuts winter-crop estimate by 12pc in latest crop report - Grain Central](https://feedsoft.ai/events/62981-abares-cuts-winter-crop-estimate-by-12pc-in-latest-crop-report-grain-central.md) | -7.4% | -7.0% |
| WHEAT | 2020-03-23 | [COCERAL cuts 2020 EU grain estimate market report](https://feedsoft.ai/events/54066-coceral-cuts-2020-eu-grain-estimate-market-report.md) | -6.6% | -4.4% |
| WHEAT | 2025-07-30 | [PIRSA cuts SA production estimate to 7.59Mt - Grain Central](https://feedsoft.ai/events/23724-pirsa-cuts-sa-production-estimate-to-7-59mt-grain-central.md) | -0.7% | -0.1% |
| WHEAT | 2024-05-13 | [WASDE update: Supportive grain estimates for 2024/25 \| articles \| ING THINK](https://feedsoft.ai/events/30214-wasde-update-supportive-grain-estimates-for-2024-25-articles-ing-think.md) | +0.8% | +5.0% |

## Sources

- stockandland.com.au: https://www.stockandland.com.au/story/4933516/abares-slashes-its-grain-estimate/

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