Australia: Grain and Feed Annual

After a record setting winter crop in marketing year (MY) 2022/23, Australia is expected to produce a more subdued, but still strong grain crop in MY 2023/24. Favorable conditions around the time of winter grain planting across most production regions of Australia bodes well for the establishment and early growth of wheat and barley in MY 2023/24. However, with predicted dry conditions in the coming months, production is expected to be down from the last three years of bumper winter crops. Wheat and barley exports are forecast to decline from a record volume of wheat, and near record for barley, estimated this year. Sorghum production and exports are forecast to decline in MY 2023/24 after making big gains in the previous two years, including record exports. Rice production in MY 2023/24 is forecast to grow by around one-third from the prior year. With the forecast production recovery, Australia is expected to return to becoming a net exporter of rice in MY 2023/24 for the first time since MY 2017/18.