Ausi Drought and Fffffrost. Feed the bulls

[Rareearth]

Australian Wheat Output Dented By Drought, Frost: Australia slashed its forecast for its wheat harvest to a nine-year low, while downgrading its canola crop to the smallest in seven years, citing "unfavorable" weather, which had hit some states with a double whammy of drought and frost. Abares, the official Australian commodities bureau, cut by -2.58 million metric tons to 21.61 million metric tons its forecast for domestic wheat production in 2017-18, a result which would make it the weakest harvest since the 21.42 million metric tons crop in 2008-09. And the bureau lowered by 564,000 metric tons to 2.75 million metric tons its estimate for production of canola, in what would be the weakest harvest since 2010-11, while cutting forecasts for output of other winter crops such as chickpeas, oats and lentils too. Abares said rainfall was well below average in most cropping regions in June and was highly variable in July and August. Some of the most marked crop downgrades came in New South Wales, where output prospects had been hurt by "below-average winter rainfall and several frosts during August and early September". Abares added that its overall crop estimates were at risk of further downgrades were possible unless rains arrive, pointing with central west New South Wales and parts of South Australia as particularly vulnerable regions. (Source: Agrimoney)

[furrowtickler]

Hmm , so two major wheat exporting countries have reduced crops and the US wheat crop smallest in a very long time yet the price of wheat continues to go down .
I guess the FSU has a 200 bus ac wheat crop ?????

[furrowtickler]

Funny not a peep from any marketing guru at all .. so there is situations in Canada , US , Australia, and Argentina but you hear crickets .......

[Klause]

Funny not a peep from any marketing guru at all .. so there is situations in Canada , US , Australia, and Argentina but you hear crickets .......

I heard that this was much needed moisture to grow bigger crops in Argentina... LOL


I'm sure 500+mm of rain (20 inches) grows a huge crop... But it needs to come over the entire year.


Argentina annual rainfall somewhere around 38 inches.

[Sharecropper]

It's hard to get bullish when there is this:

The primary production increase is
for Russia, which is raised 3.5 million tons to a record 81.0 million tons; this change is based
on excellent growing conditions and updated harvest results.

[malleefarmer]

scary thing is there is more frost at wrong time on the horizon.

were getting southerly showery blasts way up from south originate in antartica then cold still air a few days after the fronts perfect recipe for more frosts