Australia has never harvested so much barley before

Winter cereals have performed well in Australia. Abares estimates that the total harvest of winter crops will come in 35% above the ten-year average and is forecasting the third-largest wheat harvest ever in the country. In Ukraine, growers have sown more winter wheat than last autumn, according to preliminary data from the Ukrainian Ministry of Agriculture. Reports of large harvests are weighing on prices, and according to some traders, the physical market is deviating from the futures market in certain areas.