(Bloomberg) -- Australia, the world's third-largest
wheat shipper, cut its production forecast by 10 percent on
concern of dry weather in its main export wheat-growing area,
adding to a squeeze that's driven prices to an 11-year high.
The nation may produce 22.5 million metric tons this
harvest, the Australian Bureau of Agricultural and Resource
Economics said in a report released today in Canberra. That
compares with its previous forecast of 25 million tons and
output of 9.8 million tons last harvest.
Read more at Bloomberg Commodities News
wheat shipper, cut its production forecast by 10 percent on
concern of dry weather in its main export wheat-growing area,
adding to a squeeze that's driven prices to an 11-year high.
The nation may produce 22.5 million metric tons this
harvest, the Australian Bureau of Agricultural and Resource
Economics said in a report released today in Canberra. That
compares with its previous forecast of 25 million tons and
output of 9.8 million tons last harvest.
Read more at Bloomberg Commodities News
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