Australia’s 2022-23 wheat acreage seen lower, but favorable weather may help: analysts

Wheat acreage in Australia, the sixth largest producer globally, is likely to shrink in the upcoming marketing year 2022-23 (October-September) due to rising input costs, analysts told S&P Global Commodity Insights. A likely drop in the wheat acreage may also lead to a decline in output and exports. A tight supply from Australia is significant as global wheat prices have…