Australia's wheat crop is forecast at between 21 and 23 million tonnes this year and industry analysts were confident there would still be a decent crop given strong rainfall in some growing regions in recent weeks.
"If the wet weather continues over the next couple of months, we will be in a better condition to weather a moderate El Nino system," said Richard Koch, managing director of farm advisory firm Profarmer.
It's not long since the country's farmers were battling the worst drought in more than 100 years, resulting in an annual harvest just 10.6 million tonnes in 2006/07.
Epaper
Newsletter
Stocks
Weather
Horoscope
