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AWB Drops its Wheat Estimate
SYDNEY - Jul 2/03 - SNS -- The Australian Wheat Board (AWB) has dropped its estimate of the size of this year's crop by two million tones to between 20 and 22 million metric tons (MT).
Explaining the decline, the AWB said, "While the past month has been generally dry, recent widespread rains have improved the outlook for Western Australia, South Australia, Victoria and southern Queensland, where crops are emerging well with good sub-soil moisture.
"However, patchy conditions in New South Wales have prompted a reduction in the estimated area planted, and potential yields, in the state. Wheat growers still have the opportunity to plant, although they will be more reliant upon conducive spring conditions."
The latest projection is in line with the recent five-year average production figure.
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