High levels of wheat production across the globe, including a record supply of grain in Australia, have led to higher levels of supply this selling season. Despite record supply, eight and a half million tonnes of wheat has already been exported from Australia in the first five months of this sale season. The strength of the global production of wheat has seen a drop of around $40 per tonne for price at the port sale in Australia between now and 12 months ago. Australian Crop Forecasters suggest a flat lining of wheat price into the next season.
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