Analysts Cut Australian Wheat Crop Estimates As Temperatures Hit 46 Degrees

November temperature records are being broken all over eastern Australia, with much of New South Wales seeing the mercury hit 10 to 20 degrees above their November average today.

The hottest today was felt through the Upper Western where Wanaaring and Brewarrina reached 14 degrees above average at 46 degrees, making it their hottest November day on record. Other November records broken through the state were at Cobar, Condobolin, Forbes and Trangie all reaching a toasty 45 degrees, according to Elders Weather.

With the wheat harvest well underway lower yields than expected are being reported, not just in NSW but also Victoria and Western Australia. Current sweltering temperatures may knock a bit more off yields yet in late maturing crops, analysts say.

Profarmer Australia yesterday cut their Australian wheat production estimate by 1 MMT to 20.9 MMT, whilst Commonwealth Bank of Australia lopped 700,000 MT off their output ideas to 21.6 MMT.

Both estimates are considerably lower than the hapless USDA's current stab in the dark of 23.5 MMT.

Profarmer now peg Australian barley production at 7.0 MMT and canola output at 1.67 MMT.