Australia’s wheat exports in the 2017-2018 (October-September) marketing year are expected to fall 24% year on year to 16.8 million mt, in line with lower production. Last week, ABARES lowered Australia’s wheat production estimates to 20.3 million mt from 21.6 million mt in its earlier estimates. If realized, this would be the lowest production since 2007-2008 for Australian wheat. Drought and untimely rains which affected the wheat belt, especially in eastern Australia, led to lower yield, although a higher level of opening stocks helped buffer export volumes.