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Australian Wheat Harvest Lowered
SYDNEY - Jul 30/02 - SNS -- The Australian Wheat Board lowered the projected size of this year's wheat harvest below the 20.457 million metric tons (MT) forecast by the Australian Bureau of Agricultural and Resource Economics (ABARE) and the 23.96 million MT harvested last year.
Dry conditions in Queensland, New South Wales and parts of Western Australia will push this year's harvest to between 18 million and 20 million MT on account of lower yields and a reduction in seeded area. More worrisome is the observation conditions in the country could now be classed as an El Nino event, often a signal of drought in Australia.
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