August 14, 2012
Australia's 2011-12 grain estimates change over world market outlook
In line with official Government of Australia statistics, Australia's 2011-12 grain estimates were revised so as to respond to the changing world grain market outlook.
Exports of rain-affected wheat have surged in response to strong world feed grain prices, and the estimate for total wheat exports in 2011-12 was increased to 22.5 million tonnes. The estimate for 2011-12 barley exports was raised to five million tonnes.
In the absence of a total failure of spring rains, current conditions bode well for a good 2012-13 grain crop in eastern Australia.
Drier conditions prevail in the west, consequently the arrival and timely distribution of spring rains will play an even more critical role in determining the prospects of the 2012-13 Western Australia grain crop.