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Published June 11, 2014, 09:37 AM

Australia trims 2014 to '15 wheat crop forecast as El Nino looms

Australia lowered its forecast for 2014-15 wheat production by nearly 1 percent as dry weather curbs yields, and the world’s third-largest wheat exporter warned output could fall further if an El Nino weather pattern forms.

By: Reuters,

MELBOURNE — Australia lowered its forecast for 2014 to '15 wheat production by nearly 1 percent as dry weather curbs yields, and the world’s third-largest wheat exporter warned output could fall further if an El Nino weather pattern forms.

The Australian Bureau of Agriculture and Resource Economics and Sciences on Thursday forecast the wheat crop at 24.588 million metric tons, down from its March estimate of 24.795 million metric tons.

Australian canola production during the 2014 to ’15 season was seen at 3.471 million metric tons, up from its previous estimate of 2.948 million metric tons.

The bureau also revised its estimate of 2013 to ’14 cotton production to 910,000 metric tons, having previously pegged output at 940,000 metric tons.

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