Australia Raises Wheat Production Forecast By 60,000 Tons

Australia has raised its 2024/25 wheat production forecast by 60,000 tons to 31.9 million tons, driven by strong yields in the east and west, offsetting southern losses. As a major exporter, this boost will help increase global supply amid low prices. The country also expects 500,000 tons less barley and 100,000 tons more canola than previously estimated.