Australian milling wheat exports could drop to 3 year low

Milling wheat exports from Australia, the fourth largest shipper, may drop to the lowest levels in three years due to the drought in the west and the rain damage in the eastern states. Shipments of milling-quality wheat, used in bread, pasta and noodles, may decline in 2010-2011 to the lowest level since 2007-2008, when total exports fell to less than 10 million metric tons, Wayne Gordon said, an analyst at Rabobank Group NV in Sydney.

As much as 5 million tons, or 35 percent, of east-coast production may be downgraded to feed quality this year, Commonwealth Bank of Australia analyst Luke Mathews wrote in a report yesterday. The bank estimated total Australian output at 22.3 million tons and exports at 14 million tons. Read more...

 This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine from Perendale Publishers.