Most of eastern Australia, including eastern Queensland, is likely to see a wetter than normal autumn.
In its latest climate update, the Bureau of Meteorology said lingering La Nina influences were expected to result in wetter than normal weather from March to May. The bureau said there was a 70 per cent chance of a wetter than normal March for south eastern Queensland, NSW, and Victoria.
La Nina is past its peak but remains active. Weather models indicate the influence of the La Nina fade in autumn as we return to a neutral patter, the bureau said.
Queensland grain farmers are anxious for some improved rainfall in autumn, particularly in the eastern cropping regions which have missed out on recent rain.
Although the western Darling Downs and Maranoa benefited from February storms, the central and eastern Downs largely missed out. Roma, Surat, and St George received average to above average February rainfall of 70mm to 90mm, but totals were mostly less than 20mm around Dalby and Toowoomba.
February rainfall totals across the Central Highlights were generally below average with most regions recording less than 30mm for the month.
United States grain futures tumbled late last week after disappointing weekly export sales data.
Bench market wheat futures tumbled by more than 3pc on Thursday and Friday after the USDA reported the smallest weekly US wheat export sales for the 2020/21 market year of just 168,000 tonnes.
High prices have resulted in a sizable slowdown in importer purchases in recent weeks as buyers baulk at values as they cast their eyes forwards to cheaper prices in the coming months. US wheat and corn futures continue to hover around six-year highs.
The International Grains Council maintained its preliminary forecast for world wheat output at a record large 790 million tonnes, up from 773mt in the current 2020/21 season. It would be the third successive rise in global wheat production, if realised. IGC said the higher production forecast was directly linked to increased plantings. It said plantings were well up in Europe, China, India, and Pakistan.
Global wheat supplies in the major exporting countries are expected to remain stable, with most of the production increases to occur in the non-exporting countries of India and China, IGC said.
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