Wheat production to drop to 15.5 million tonnes

NATIONAL Australia Bank’s (NAB’s) latest commodity snapshot has forecast Australian wheat production to be 15.5 million tonnes.

Wheat production to drop to 15.5 million tonnes  Wheat production to drop to 15.5 million tonnes  Wheat production to drop to 15.5 million tonnes  Wheat production to drop to 15.5 million tonnes  Wheat production to drop to 15.5 million tonnes

NAB has revised its wheat crop forecast down to 15.5 million tonnes.

The significant downgrade, forecast in NAB's Rural Commodities Wrap for October, is the result of poor seasonal conditions including a lack of rain, excessive heat and frost.

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