Australia harvested 2 million tons of wheat more than forecast in 2024/25 MY

According to market participants, the wheat harvest in Australia in the 2024/25 MY exceeded the 31.9 million tons forecast by government authorities in December (at the time of the completion of the harvest) by 2 million tons, Reuters reports.

Local analysts estimate production at 32 - 35.5 million tons. The main reason for the data adjustment was high yield indicators in Western Australia - one of the largest grain growing regions, where production significantly exceeded expectations.

In this regard, the forecast for Australian wheat exports for the 2024/25 MY has also been increased - from the previous 22 million tons to 24 million tons.