Australian Bureau of Statistics cuts 2016/17 Wheat Crop to 30.4 million MT

ABS released updated crop production estimates for 2016/17 marketing year lowering wheat production to 30.4 million MT, 3.0 million MT below USDA.  ABS also reduced 2015/16 wheat production 400 thousand tonnes to 21.9 million MT, compared to USDA’s 22.28 million MT.  USDA will have to adjust its 2017/18 Australian wheat export forecast in its January 12th WASDE, cutting exports to 12.0-13.0 million MT.

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