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Australia on the Road to Big Wheat Crop

Early rains and a quick start to plantings have prompted analysts in Australia to predict the next wheat crop could top 22 million metric tons. Of course, a lot rides on changing weather patterns and how much rain falls post-planting, according to wire reports.

Being on target for an average crop is good news. The country is still recovering from a five-year drought that devastated agricultural production. And producers continue to keep an eye on Pacific weather patterns. With talk of a returning El Nino, which can interrupt important rainfall, producers remain nervous.