Australia, one of the world’s largest wheat exporters, is forecast to produce another huge harvest this season as favorable conditions encourage growers to ramp up planting of winter crops to near-record levels. Wheat production is estimated at 30.3 million tons in 2022-23, or 22% above the 10-year average, according to government forecaster Abares. That would be the fourth largest on record and compares with an all-time high of 36.3 million tons in 2021-22, which Abares estimated in March. The canola crop is seen at 5.6 million tons, the second largest after 6.4 million tons the previous year. High prices and supportive seasonal conditions are prompting more sowing of wheat and canola, with planted area for wheat rising 1% and for canola expanding 12% to a record, Abares said. The increase comes at the expense of barley in most states, and chickpeas in Queensland and North South Wales. The outlook […]