INTERNATIONAL grain agencies are forecasting world-record wheat production this season but Australian prices should be supported by low stock levels and strong demand from Asia.
DRY weather in key grain producing parts of Australia has not led to a drop in the country's expected grain production. http://www.weeklytimesnow.com.au/article/2013/09/13/582721_grain-and-hay.html
Summary Harvest underway across the State Total production of 8.91 million tonnes from 4.04 million hectares Spring weather reduces potential, with dry conditions, frost and strong winds causing losses Still estimated to be the third largest crop behind 2001 (9.36 million tonnes) and 2010 (10.34 million tonnes)
http://www.pir.sa.gov.au/grains/cpr
Estimated 3rd largest crop on record behind 2001 and 2010 in my books thats a bumper crop. Would have been record except for the dry spring with frosts and wind causing some losses
GNC Price at posting:
$8.72 Sentiment: Buy Disclosure: Held
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