Australia's MY 2022-23 wheat output forecast at record 36.6 mil mt

S&P Global reported that ABARES raised its 2022-23 Australian wheat forecast to a record 36.6 million tonnes from 32.2 million. Western Australia output was lifted to 13 million tonnes, while New South Wales was cut to 9.1 million tonnes.

Australian Prime Hard and standard white wheat prices fell about 7% and 10% respectively over the month.