Australia Gets Promised Rains
Australia got it's promised weekend rains, although falls in some areas were slightly disappointing according to some.
Still, rain in NSW and southern Queensland of 10-50mm were likely enough to to see crops through to maturity analysts said.
NSW's north-west grain belt received 25 to 50 millimetres of rain on Sunday, the Bureau of Meteorology said.
The country may get further rain this week in grain growing areas, with heavier falls expected in the nation's west, the National Climate Center said.
Western Australia, the country's biggest wheat growing region, may get between 15 millimeters (0.6 inch) and 25 millimeters of rain, with rainfall above 25 millimeters in some parts, meteorologists said.
Traders are still widely divided opinion as to the likely final size of the wheat crop with estimates ranging from 20-26mmt compared to 13mmt in 2007. The harvest begins in October.
Australia is forecast to regain it's position as the worlds third largest wheat exporting nation in the coming season after slipping to sixth in export rankings after severe drought the last two years.
Benchmark ASX January wheat closed A$4.50 lower Monday at $337.50/tonne.
Still, rain in NSW and southern Queensland of 10-50mm were likely enough to to see crops through to maturity analysts said.
NSW's north-west grain belt received 25 to 50 millimetres of rain on Sunday, the Bureau of Meteorology said.
The country may get further rain this week in grain growing areas, with heavier falls expected in the nation's west, the National Climate Center said.
Western Australia, the country's biggest wheat growing region, may get between 15 millimeters (0.6 inch) and 25 millimeters of rain, with rainfall above 25 millimeters in some parts, meteorologists said.
Traders are still widely divided opinion as to the likely final size of the wheat crop with estimates ranging from 20-26mmt compared to 13mmt in 2007. The harvest begins in October.
Australia is forecast to regain it's position as the worlds third largest wheat exporting nation in the coming season after slipping to sixth in export rankings after severe drought the last two years.
Benchmark ASX January wheat closed A$4.50 lower Monday at $337.50/tonne.