Australia: Grain and Feed Update

Good conditions at planting and during the early growth phase for wheat and barley production have prevailed for marketing year (MY) 2023/24. However, after a record setting winter crop in MY 2022/23, Australia is expected to produce a strong but more subdued grain crop in MY 2023/24. Rainfall across the first three months of production has been at average or better supporting solid production forecasts. However, the prospect of an El Niño, if realized would dampen these production expectations. Wheat and barley exports are forecast to fall due to the expectation of much lower production. Sorghum production and exports are forecast to decline in MY 2023/24 after big production results in the previous two years and record exports estimated for MY 2022/23. Rice production in MY 2023/24 is forecast to grow by around one-third from the prior year supported by ample irrigation water availability. Australia is expected to return to becoming a net exporter of rice in MY 2023/24 for the first time since MY 2017/18.