INTL FCStone pegs Australian wheat production below official forecasts

Stonex

13/09/2018 01:39

SYDNEY, Sept 13 (Reuters) - Commodity brokerage INTL FCStone
 INTL.O  on Thursday pegged Australian wheat production below
recently reduced official estimates, as a crippling drought in
the country's east shows no signs of easing.
    The brokerage forecast Australian wheat output for the year
to end-September 2019 at 18.78 million tonnes, below Australia's
latest official estimate of 19.1 million tonnes.
    Australia's chief commodity forecaster earlier this week cut
its production forecast by nearly 13 percent to a 10-year low as
the east coast suffers through its worst drought in more than 60
years.  urn:newsml:reuters.com:*:nL3N1VW1RB
    INTL FCStone also pegged Australian canola production at 2.4
million tonnes, below the official forecast of 2.8 million
tonnes.
    

 (Reporting by Colin Packham; editing by Richard Pullin)
 ((colin.packham@thomsonreuters.com; +61-2 9321 8161; Reuters
Messaging: colin.packham.thomsonreuters.com@reuters.net))