Movin’ on Up: Australian 2020/21 Winter Crop Outlook
Widespread and well-timed rainfall across most of Australia has been a very welcome disruption to the consecutive years of drought that have delivered three years of decline in Australian grain production and exports, according to Rabobank’s Australian 2020/21 Winter Crop Outlook.
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“While it’s still around six months until the grain is in the bin, all the hallmarks of an above-average season are now falling into place,” according to Cheryl Kalisch Gordon, senior grains & oilseeds analyst.
“With the Bureau of Meteorology’s forecast for above-average rainfall across the winter cropping region of Australia out to August, more hectares are expected to be combined with at least average yields to deliver an average to above-average winter grain crop. Export volumes will remain challenged by competitive global supplies and Chinese tariffs now in place on Australian barley, but total grain & oilseed exports could increase by near to 70% YOY in 2020/21.”