The estimate for wheat production in Australia in 2017-18 has been cut by 1.5 MMT to 20 MMT due to adverse seasonal conditions across most crop areas. The forecast is over 40% lower than the record harvest of 35 mln tn in 2016-17, it said. In its report in October, the agency cut the production estimate for the country for 2017-18 to 21.5 mln tn from the previous forecast of 22.5 mln tn. The estimate for Australia’s wheat exports was, however, maintained at 18 mln tn despite the likely decline in production due to higher stocks. Stocks from the record and revised harvest of 2016/17 are expected to supply a proportion of export contracts in 2017/18 and then fall to 3.4 mln tn