Rabobank Lowers Australian Wheat Output 1MMT
Rabobank has lowered it's 2008 Australian wheat production forecast by 1MMT to 19.5MMT.
In addition to the well-publicised problems with heavy rains is northern NSW and southern Queensland, causing quality downgrades, South Australia has also suffered quality and yield losses through dryness, they say.
Adds that "the uncertainty characterizing the market with the deregulation of the single desk this season," will make export pace slower than in previous seasons.
In addition to the well-publicised problems with heavy rains is northern NSW and southern Queensland, causing quality downgrades, South Australia has also suffered quality and yield losses through dryness, they say.
Adds that "the uncertainty characterizing the market with the deregulation of the single desk this season," will make export pace slower than in previous seasons.
