Business
‘Grain everywhere’: Farmers hope for ‘magnificent’ wheat crop in pandemic economy – Sydney Morning Herald
The mid-season crops in some of the major eastern grain-growing areas are as lush as some industry veterans can remember, representing one of the few bright spots in Australia’s pandemic-affected economy.
“If auger sales are through the roof, that tells you one thing – there is going to be grain everywhere,” he said.
Australia was one of the top four global wheat exporters before the unrelenting drought started slashing production.
The country’s chief commodity forecaster recently lifted its wheat production forecasts for 2020-21 to 26.7 million tonnes, more than 75 per cent above the prior year’s level and the highest since Australia’s record 35.13 million tonnes in 201617.
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