# Australian wheat rebound eases global supply fears 2026-08-09T23:44:19+00:00 | World & Diplomacy | Indian Opinion Desk Corroboration: 1 independent outlet Australia's wheat outlook has improved sharply after timely rains in key eastern states, with Rabobank upgrading its forecast to as high as 30 million tonnes, up from a dire 21.3 million tonnes projected in May. Bendigo Bank sees similar numbers, with upside to 33 million tonnes. While still below last year's 35.8 million tonnes, the crop is above the 10-year average and offers relief as Black Sea exports face disruption and heat waves hit US, Canada and EU crops. The global supply crunch pushed Chicago wheat futures to a two-year high in July. The US Department of Agriculture is expected to cut its production estimates for American wheat in a key report this week. Though large carryover stocks and the Australian uptick have pulled prices off their peak, the ongoing Russia-Ukraine war and a looming El Niño threaten the harvest. ## Coverage - livemint.com - livemint.com Tags: agriculture, Australia, Black Sea, El Nino, global-supply, wheat Canonical: https://indianopinion.org/australian-wheat-crop-rebounds-as-global-supply-tightens/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/australian-wheat-crop-rebounds-as-global-supply-tightens/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.