Australia ABARES pegs 2017-18 wheat crop at 24.2 million tonne, down 31%.

The Australian Bureau of Agricultural and Resource Economics and Sciences has forecast the country wheat output in 2017-18 (Apr-Mar) at 24.2 million tonne, down 31% from previous year’s record high of 35.1 million tonne. The decline may be largely attributed to around 1.3% fall in wheat acreage to 12.7 million tonne.