You can betcha bottom dollar you’ll be paying more for wheat ...

World

You can betcha bottom dollar you’ll be paying more for wheat products soon

Australia’s bumper harvest has been affected by rain, meaning a large percentage will be downgraded to feed

Sybilla Gross

Those fretting about the global scarcity of high-quality wheat have one more reason to worry: heavy rain at the wrong time in Australia, one of the world’s biggest exporters of the grain. 

Just as farmers were set to head into the fields and pull off a bumper harvest, sheets of heavy rain have battered crops across major growing regions in the country’s east, bogging down machinery and raising the risk of hefty downgrades that are likely to worsen a worldwide shortage of milling wheat.

The torrential downpours are typical of a La Nina weather event, which the Australian Bureau of Meteorology said on Tuesday had now commenced. The phenomenon brings above average rainfall to eastern and northern areas of Australia and Southeast Asia, and dry weather to parts of the Americas...

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