NEWS
Floods Didn't Hamper Aussie Wheat Crop
Tue Feb 12, 2013 08:00 AM CST

SYDNEY (Dow Jones) -- Australia's wheat crop has withstood the floods and fires of recent months, according to the government's forecaster, helping to ease concerns that a drought in the U.S. may create a shortage of global supplies.

The Australian Bureau of Agricultural and Resource Economics said Tuesday that Australia, the world's second-largest wheat exporter last year, will produce 22.1 million metric tons of the grain in the crop year started Oct. 1, up marginally from its December estimate of 22 million tons.

The bureau also kept its export forecast unchanged at 20.9 million tons, down from the record 24.7 ...

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