Australia: Grain and Feed Update

Australia is expected to produce a third consecutive big grain crop in marketing year (MY) 2022/23 after a record setting winter crop and strong summer crop production in MY 2021/22. Another broadly favorable set of conditions around the time of winter grain planting and the early growth phase across most production regions bodes well for wheat and barley production in MY 2022/23. Wheat production is forecast at 31 million metric tons (MMT), down from the record-breaking MY 2021/22 crop of 36.3 MMT but still the fourth largest in history. Similarly, barley production is forecast at 11 MMT, down from the previous year’s 13.7 MMT record. Sorghum production is forecast for another big production year in MY 2022/23, but will also decline, after making big gains in MY 2021/22 and achieving record yields. Rice production in MY 2022/23 is forecast to continue to grow for the third successive year with an increase in planted area with grower confidence rising of ample irrigation water availability.