FAS USDA predicts a 26% reduction in the 2023/24 wheat harvest in Australia and a 30% reduction in barley

FAS USDA experts predict that in FY 2023/24 the wheat harvest in Australia will decrease by 26% to 29 million tons. The weather during the sowing of winter cereals contributed to the establishment of seedlings and early plant development. However, the drought predicted for the coming months may reduce the production of winter crops compared to the record harvests of the last three years.

The estimated USDA FASA for 2023/24 MR harvest within 29 million tonnes will be the third after a record production of 39.2 million tonnes in 2022/23 MR and 36.2 million tonnes in 2021/22 mr.

Wheat exports in the 2023/24 MR FAS USDA estimates at 23 million tons, which, although it will be 7 million tons less than the record 30 million tons of the 2022/23 MR season, but will be the fifth largest indicator in the entire history of observations.

In addition, USDA's FAS forecasts that Australian barley production in FY 2023/24 will decline from the near-record current season by 4.1 million tonnes, or 30%, to 10 million tonnes due to reduced acreage and lower yields. The country's barley exports in FY 2023/24 will decrease from FY 2022/23 by 3 million tonnes to 5 million tonnes. World demand for Australian barley is expected to remain stable and domestic barley ending stocks will decrease to meet forecast export demand. .