Grains set for more bumper crops, prices to remain strong amid global shortages

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The latest grains cropping forecast from Rabobank predicts the current winter crop will hit just under 53 million tonnes, just slightly off 2020's highs.

Western Australia was set to have a record year for productionThe large crop would be 5 per cent less than last year but more than 25 per cent above the five-year average.

Queensland will also increase 18 per cent on last year's crops, but New South Wales, Victoria, and South Australia will all be down.NSW production is forecast to drop 14 per cent with dry areas in the Riverina and north-west, and waterlogging in the central west. Cheryl Kalisch Grodon from Rabobank said it was a still a "stellar year" but the industry was coming off a "really high base" from the 2020 winter cropping season.

The report shows that while production is down, it could be record year in terms of value for the industry.

 

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