Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
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Australia Cuts Wheat Forecast 9% After Dry Weather
(Bloomberg) -- Australia, the world's second- largest wheat exporter, cut its harvest forecast by 9 percent after below-average rainfall delayed planting.

The October-to-January harvest may produce 22.8 million metric tons of wheat, the Australian Bureau of Agricultural & Resource Economics said in a statement today. That compares with the 24.5 million tons it forecast in February and 25.1 million tons gathered last year.

A decline in production in Australia may extend gains in wheat prices and further crimp supply with global production forecast to lag demand. Above-average rainfall isn't likely this winter, the government's weather forecaster said May 25.

``There is potential for a further reduction if we don't get more rain,'' said Tobin Gorey, a commodity analyst at Commonwealth Bank of Australia, in Sydney.

Chicago wheat futures have risen 11 percent this year amid concern unfavorable weather may curb output in the U.S., the world's biggest exporter of the grain.

Wheat futures for September delivery rose 1.75 cents, or 0.5 percent, to $3.778 a bushel in after hours electronic trading on the Chicago Board of Trade at 11.03 a.m. Sydney time.

A survey of six analysts and traders before today said the bureau may cut its estimate to 23.3 million tons.

Rainfall during May, when farmers start sowing grain, ranged from zero to less than 50 percent of the average in most parts of the country.

Summer Rain

``Most cropping regions of Australia recorded below to very average rainfall during the summer of 2005-06,'' the bureau said in the statement. ``With the exception of South Australia. The dry trend continued throughout autumn across most states.''

Eighty-nine percent of New South Wales, the second-largest wheat growing state in Australia, slipped into drought in June, compared with 63 percent in May, the state government said on its Web site June 15. It's the fifth straight year of drought for some farmers.

Still, ``widespread rainfall throughout New South Wales over the second weekend of June will allow for more of the intended crop to be planted,'' the bureau said. ``In Victoria, widespread May rainfall allowed significant planting to occur on reasonable soil moisture.''

Grain growers in Western Australia, the country's biggest wheat growing state, have planted an estimated 30 percent of the crop so far, Allan Herbert, senior adviser with the state's Department of Agriculture and Food, said from Perth June 15.

``Conditions across the Western Australian grains belt have been variable,'' the bureau said. ``In early June the majority of the grains belt was in need of rainfall.''
MGR Archive 20.6.2006
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