"Last month, Australia’s Department of Agriculture and Water Resources forecast that the country’s wheat yield for the 2015-16 season would reach 25.3 million tonnes, up 7 per cent from a year earlier.
However, Tobin Gorey, agribusiness economist at Commonwealth Bank of Australia, said the yield could eventually be as much as two million tonnes lower, following low rainfall in September"
" Australian wheat traders were buying futures contracts now to make sure they have grain available for shipments they have committed to later in the season, said Campbell Keene, a senior manager at Rabobank in Sydney, pushing up prices"
So a wheat harvest of around 23 million tons looks closer to the mark then the 27 million forecast by usda. Harvest will start here by the end of the month, hope to get a rise in price in the next few weeks. $300 port is ok but wouldn't knock back another $20 or $30.
