ANZ Reports Record Winter Crop Volumes Amid Patchy Yields and Low Grain Prices

Reuters
Dec 01
ANZ Reports Record Winter Crop Volumes Amid Patchy Yields and Low Grain Prices

ANZ Group Holdings Limited has released its latest Agri InFocus Commodity Insights report, highlighting a mixed outlook for Australia's winter crop harvest. While forecasts suggest one of the largest national harvests on record, significant variation exists between regions. Western Australia, northern New South Wales, and Queensland are leading with strong yields, but parts of south-eastern Australia are experiencing lower yields due to cool weather, frosts, and patchy rainfall. Despite the high harvest volumes, subdued grain prices are putting pressure on producers' profitability. Canola stands out as a positive exception, with prices and yields exceeding initial expectations. Meanwhile, global oversupply of lentils and chickpeas is driving down prices for these crops, further impacting growers' returns. The report underscores that, despite robust overall volumes, many producers face challenges from weaker prices and uneven yields.

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