Down-under: No signs of improvement in cereals

Since last month, the market observers in Australia estimate the next wheat harvest down-under smaller and smaller. The chief commodity analyst in Australia last went from 21.9 million tons.
If it stays so dry in the coming months, it could only be 13 million tons, said Profarmer Australia.
That would be the smallest harvest since 2008. Australia usually exports 18 million tons of wheat a year, almost all to Asia.
Text: HANSA Derivatives Trading GmbH /

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