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Australia’s 2025/26 wheat production will be 16.1% lower than the previous season’s record harvest of 34.1 million tonnes, according to five analysts and traders surveyed by Reuters, as drought in some parts of the country severely reduces soil moisture. Wheat crop forecasts range from 27 million to 30.752 million tonnes, with the median estimate at 28.6 million tonnes, compared with ABARES’ March estimate of 30.5 million tonnes. Soil moisture is adequate in New South Wales and Western Australia, while growers in South Australia and Victoria should brace for severe drought.

According to forecasts by five analysts and traders surveyed by Reuters, in the MY 2025/26, Australian wheat production will be 16.1% lower than the previous season's record harvest, estimated by the Australian Bureau of Agricultural Economics (ABARES) at 34.1 million tonnes, as drought in some regions of the country greatly reduces soil moisture. Wheat harvest

Wheat exports from the EU are declining amid low demand from importers, who are increasing supplies from Australia and Argentina.