Cool, wet conditions are expected across Australia's west coast and southern states over the next three months, the weather bureau said on Thursday, in a forecast that could help boost wheat prospects if it materialises.
Australia's Bureau of Meteorology (BOM) said there is a 70% chance of above average rains between March 1 and May 30 over much of Western Australia, South Australia and Victoria.
While BOM sees only average conditions across New South Wales and Queensland, the forecast is a boost for Australian wheat farmers who will in April begin sowing the country's most lucrative agricultural export.
"If it transpires, it will be great news for growers," said Phin Ziebell, agribusiness economist, National Australia Bank.
Australian grain growers will begin planting the 2020/21 wheat crop in late April.
Wheat crop during the recently completed 2019/20 season fell to a 12-year low as near record low rainfall across the country wilted crops, pushing the benchmark wheat prices <Wv1> to an 18-month high in January.
The devastating season was the third year of dry weather across Australia's east coast, sapping nearly all the moisture from soil.
The outlook eased earlier this month following a four-day downpour across the east coast, though grain growers warned more rains would be needed.
Australia's chief commodity forecaster will in March issue its first official forecast for wheat production in the 2020/21 season.
(Reporting by Colin Packham; Editing by Sriraj Kalluvila)
