# Global Ag News for Mar 5.24 - ADM Investor Services

> Australia's agriculture ministry forecast its 2024/25 winter wheat crop at 28.4 million tonnes, up from 26 million, with barley and canola also rising. Wetter weather and a fading El Niño improved the outlook. Winter crop output is expected to rise 9% to 51 million tonnes.

- Date: 2024-03-05 · published 2024-03-05T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/7301-global-ag-news-for-mar-5-24-adm-investor-services
- 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 larger Australian harvest adds to global wheat, barley and canola supply, which is bearish for prices. Export volumes are also expected to exceed the long-term average.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-07-29 | [Wkly Futures Mkt Summary July 29.24 - ADM Investor Services](https://feedsoft.ai/events/6828-wkly-futures-mkt-summary-july-29-24-adm-investor-services.md) | -4.2% | -6.9% |
| WHEAT | 2025-04-28 | [Global wheat market: Wheat prices fall as weather improves in the northern hemisphere](https://feedsoft.ai/events/25164-global-wheat-market-wheat-prices-fall-as-weather-improves-in-the-northern.md) | -0.9% | -4.3% |
| WHEAT | 2019-04-23 | [Global Wheat Market Outlook For Australian Growers](https://feedsoft.ai/events/59641-global-wheat-market-outlook-for-australian-growers.md) | -4.2% | -0.6% |
| WHEAT | 2016-12-16 | [Indonesia: Grain and Feed Update \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/73403-indonesia-grain-and-feed-update-usda-foreign-agricultural-service.md) | -1.9% | +0.9% |
| WHEAT | 2016-07-14 | [U.S. grains: New forecast ends rallies - Manitoba Co-operator](https://feedsoft.ai/events/4942-u-s-grains-new-forecast-ends-rallies-manitoba-co-operator.md) | +0.7% | +1.0% |

## Sources

- admis.com: https://www.admis.com/global-ag-news-for-mar-5-24/

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