Australia's wheat production is projected to drop 10 per cent this year to 30.6 million tonnes, with barley and canola output also expected to fall due to dry conditions across several cropping regions, the agriculture ministry, ABARES, said.
Barley, canola also hit
Canola demand has softened with supply issues being worked out as of the end of May, but dry fields in western Canada are also pulling the canola futures market the other way.
Announcement pending on 45Z biofuel tax credit
Barley the lone exception
Manitoba farmers have seen heat, frost, wind, heavy rain, no rain and everything between over May 2025
Good levels of soil moisture provincewide
Canola prices as of May 23 have some market headwinds on the horizon, from politics to production fundamentals
Most spring wheat in the ground