Dry conditions across Australia 's biggest wheat-producing regions has pushed up hard-red winter wheat prices up by 10% and the soft-red variety by 10% on the Chicago Board of Trade . last month crop predictions suggested a harvest of 21.9 million metric tons , the smallest in last month , while June , National Australia Bank warned wheat output could drop below 20 million tons . The estimates have prompted fears about insufficient animal feed supplies and a drop in exports.
Dry conditions across Australia's biggest wheat-producing regions has pushed up hard-red winter wheat prices up by 14% and the soft-red variety by 10% on the Chicago Board of Trade. June crop predictions suggested a harvest of 21.9 million metric tons, the smallest in 10 years, while last month, National Australia Bank warned wheat output could drop below 20 million tons. The estimates have prompted fears about insufficient animal feed supplies and a drop in exports.