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 . 2018, 3:30 AMAugust 02 2018, 1:49 PM June crop predictions suggested a harvest of 20 million metric tons , the smallest in 30 years , while last month , National Australia Bank warned wheat output could drop below 20 million tons . The estimates have prompted fears about insufficient Australian feed supplies and a decline 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 20 million metric tons , the smallest in 30 years , while last month , National Australia Bank warned wheat output could drop below 20 million tons . The estimates have prompted fears about insufficient Australian feed supplies and a decline in exports .