Australia, the world’s third-largest wheat shipper, raised its output estimate to the third-biggest on record as the harvest in Western Australia offsets frost damage in parts of eastern areas.
Output may total 26.2 million metric tons in 2013-2014, from 24.5 million tons estimated in September and 22.5 million tons a year earlier, the Australian Bureau of Agricultural and Resource Economics and Sciences said in a report today. Western Australian farmers will harvest 9.6 million tons, compared with 7.3 million tons estimated in September, it said.
The forecast may add pressure on wheat futures that tumbled 15 percent this year amid forecasts for a record global output. World corn and soybean harvests will also climb to all-time highs as growing areas recover from dry weather last year. Rising supplies mean the world’s food-import bill will drop 3.2 percent to $1.15 trillion this year, the United Nations’ Food & Agriculture Organization estimates.
“Generally favorable conditions and timely rainfall during spring increased prospective yields, particularly in southern and central Western Australia,” Canberra-based Abares said in the report.
Crops in southern Queensland and northern New South Wales were adversely affected by frost in August, while those in central and southern New South Wales had “significant” frost damage in October, Abares said.
New South Wales, set to be this year’s second-biggest producer, will harvest 6.7 million tons from 7.2 million tons estimated in September. Abares lowered its estimate for area planted to wheat in Australia to 13.5 million hectares (33.4 million acres) from 13.7 million hectares forecast in September.
Canola production may reach 3.4 million tons from 3.3 million tons predicted in September. Barley output may total 8.6 million tons, up from a September estimate of 7.7 million tons, it said. Cotton production may total 975,000 tons in 2013-2014 compared with 990,000 tons forecast in September.
(Source – http://www.blackseagrain.net/novosti/australia-set-for-third-biggest-wheat-harvest-on-western-crop)