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Wheat crop forecasts revised down again
22 Oct 2008
Dry conditions in the south east grain belt have led Australian Crop Forecasters to lower its expected wheat crop forecast by almost five per cent to a total harvest of 20 million tonnes, down from 21 million tonnes at the beginning of October. "Conditions have remained dry, particularly around south-east Australia so this week we''ve revised our forecast down again to 20 million tonnes," said Gavin Warburton, an analyst at ACF. The ACF estimate could drop further because south-east Australia weather forecasts indicate more dry weather ahead. The ACF forecast is at the lower end of the range of forecasters predictions with Western Australian-based consultancy Profarmer the highest, forecasting 23.6 million tonnes. This year''s harvest is being supported by good expected harvests in Queensland and Western Australia and is still expected to be substantially better than last year''s 13 million tonne crop.
Business Spectator/Reuters, 22/10/2008
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