Australia Ups Wheat Crop Forecast as Black Sea Crisis Boosts Demand

Australia has revised its wheat crop forecast upwards to 29.9 million tons for the 2026/27 season, citing strong winter rains and improved growing conditions.

The Department of Agriculture made this announcement on Tuesday, which is around 12% higher than their previous forecast in June.

This increase comes at a time when global demand for wheat is rising due to the worsening Black Sea crisis, which has severely constrained supplies from the region.

Rod Baker, an analyst with Bendigo Bank, stated that wheat exports from Western Australia are expected to be almost 1 million tons this month, which would be 29% above the September average for the past 15 years.