Australia, the world’s second-largest wheat exporter, raised its production estimate for the current marketing year by a fraction from its December estimate, as the crop largely escaped damage from a heat wave and floods this summer. The Australian Bureau of Agriculture and Resource Economics and Sciences (ABARES) forecast wheat production of 22.077 million tonnes for […] Read more
Australia nudges up wheat estimate
Australia’s GrainCorp knocks back ADM bid
Australia’s GrainCorp knocked back a US$2.8 billion takeover offer from Archer Daniel Midland (ADM) on Thursday, saying the bid undervalued the grains handler after a bumper harvest delivered a record annual net profit. The U.S. agricultural giant’s bid comes at a time of dramatic consolidation in the global grains sector amid intense competition to feed […] Read more
Australia’s early wheat harvest shows lower protein
The early wheat harvest in Australia, the world’s second largest exporter, is showing lower protein scales and poor yields, analysts and traders said, heightening concerns over global grain supplies as shipments from top exporters dwindle. Farmers are finding lower-than-expected protein scales in New South Wales and Queensland, the states responsible for producing top quality hard […] Read more
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