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El Nino Defying Rain Seen Boosting Australia Wheat Yield Outlook

Posted by Eric Anderson Aug 06, 2015

Bloomberg is reporting today that . . .

Australia’s wheat harvest may be bigger than previously forecast as rain in the past month boosted the outlook for yields, according to National Australia Bank Ltd.

Output may total 21.6 million metric tons this season amid better conditions in New South Wales and South Australia, agribusiness economist Phin Ziebell wrote in a report on Thursday. The bank had previously warned that El Nino risked reducing the crop to 20 million tons or less. Timely rainfall in spring, which starts in September, may further boost production to about 23 million tons, the bank estimates.

Farmers and traders are assessing the impact of El Nino, which typically brings dry weather to eastern Australia and parts of Asia while altering rainfall in South America. The Pacific Ocean weather pattern continues to strengthen and will last into next year, Australia’s weather bureau predicts. The wheat crop is holding up better-than-expected as recent rainfall helped ease concerns El Nino would curb production, a survey of six analysts and traders compiled by Bloomberg shows.

 

Full story at http://www.bloomberg.com/news/articles/2015-08-06/el-nino-defying-rain-seen-boosting-australia-wheat-yield-outlook


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Posted in Crop reports | Tagged with wheat Australia El Nino crop forecast | More articles by Eric Anderson



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