Australia's wheat production estimate reduced.


Australia's agriculture department cut its forecast for wheat production in 2019-20 (April-March), on the back of unfavorable weather conditions in the country's largest exporting region, Western Australia. The wheat production is expected to fall 16.8 percent to 15.85 million tonnes, the Bureau of Agricultural and Resource Economics and Sciences said in a report. The forecast is 8.4 percent, lower from the amount of wheat produced in 2018-19. The new forecast is almost in line with that of the National Australia Bank's estimate of 15.5 million tones and Rabobank's 15.8 million tonnes. The US...

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