Australian Wheat Crop Rebounds at Crucial Time for Global Supply

Australia’s upcoming wheat-crop prospects are improving, which should provide some relief against a worsening global wheat supply outlook. The tone shifts from grim to more constructive, likely tempering downside risk for wheat prices relative to recent expectations.

Analysis

Australia’s upcoming wheat-crop prospects are improving, which should provide some relief against a worsening global wheat supply outlook. The tone shifts from grim to more constructive, likely tempering downside risk for wheat prices relative to recent expectations.