World Perspectives
wheat

Wheat Volatility

ABARE announced that Australian wheat production will jump in one year a whopping 120 percent to 33.3 MMT based on higher yields. Such annual volatility in wheat output is not unusual for Australia where, like Argentina, the El Nino/La Nina weather cycle can greatly impact agriculture. Even using USDA’s more conservative output number, Australia’s wheat crop will be nearly 100 percent larger this year versus last.  Russia has historically incurred soil moisture maintenance challenges, but its annual changes have been relatively modest. The world’s breadbasket has, however, seen its wheat output increase 126 percent over the past five years. The EU has been very stable with a 26.7 percent jump in wheat production in 1...

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