# Australia's east coast sees huge grain harvest - Xinhua | English.news.cn

> GrainCorp's eastern seaboard silos are recording record volumes, with 12 million tonnes of wheat, barley, canola and chickpeas received. Australia's wheat production is forecast at 28.08 million tonnes for 2016/17, and analysts expect it could be higher. The article notes an already oversupplied global wheat market.

- Date: 2017-01-11 · published 2017-01-11T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/72958-australia-s-east-coast-sees-huge-grain-harvest-xinhua-english-news-cn
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

A bumper Australian crop in an oversupplied global market points to continued downward pressure on wheat and barley export prices.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-11-30 | [Australia set to harvest record grain crop \| World Grain](https://feedsoft.ai/events/44019-australia-set-to-harvest-record-grain-crop-world-grain.md) | -1.0% | -3.4% |
| WHEAT | 2023-04-03 | [South Australia’s grain harvest rises by 51%   - Milling Midd ...](https://feedsoft.ai/events/36370-south-australia-s-grain-harvest-rises-by-51-milling-midd.md) | -13.2% | -13.6% |
| WHEAT | 2022-12-08 | [Australia Set for Record Grain Harvest Despite Weather](https://feedsoft.ai/events/38220-australia-set-for-record-grain-harvest-despite-weather.md) | +9.5% | +8.2% |
| WHEAT | 2023-01-30 | [Australia grain harvest running to record \| World Grain](https://feedsoft.ai/events/37734-australia-grain-harvest-running-to-record-world-grain.md) | +3.4% | +1.2% |
| WHEAT | 2020-12-03 | [Second largest harvest on record sees grain prices fall \| Meat & Livestock Australia](https://feedsoft.ai/events/49629-second-largest-harvest-on-record-sees-grain-prices-fall-meat-and-livestock.md) | +9.8% | +9.8% |

## Sources

- xinhuanet.com: http://www.xinhuanet.com/english/2017-01/11/c_135972263.htm

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