# Wheat production forecast down: NAB - Grain Central

> NAB's Rural Commodities Index fell 1.2% in July, while wheat prices rose 10.8% after an 8.2% rise the month before. NAB cut its 2017-18 national wheat forecast to 22.7Mt from 23.3Mt, and warned that a dry rest of season could push the crop into the high teens or low twenties.

- Date: 2017-08-08 · published 2017-08-08T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/69415-wheat-production-forecast-down-nab-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

A smaller Australian wheat crop and rising domestic prices support wheat values and create a feed-grain premium as livestock producers look for supply. Weather outcomes over the rest of the season will decide how far prices move.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| WHEAT | 2018-06-13 | [Australia cuts wheat production forecast \| World-grain.com \| June 12, 2018 20:28 \| World Grain](https://feedsoft.ai/events/64493-australia-cuts-wheat-production-forecast-world-grain-com-june-12-2018-20-28.md) | -2.0% | -8.2% |
| WHEAT | 2023-07-28 | [Australia forecasts 34% decline in wheat production](https://feedsoft.ai/events/35012-australia-forecasts-34-decline-in-wheat-production.md) | -0.1% | -2.1% |
| WHEAT | 2024-02-16 | [Strategie Grains has lowered its forecast for EU wheat production](https://feedsoft.ai/events/31601-strategie-grains-has-lowered-its-forecast-for-eu-wheat-production.md) | +1.0% | -4.6% |
| WHEAT | 2020-05-26 | [Wheat production concerns in Europe spook markets - Grain Central](https://feedsoft.ai/events/53054-wheat-production-concerns-in-europe-spook-markets-grain-central.md) | -0.8% | -0.2% |

## Sources

- graincentral.com: https://www.graincentral.com/cropping/wheat-production-forecast-down-nab/

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