Australia wheat stocks down 20 percent in June to 7 million tonnes

Wheat stored by Australian bulk handlers and users as of June 30 totalled 7.00 tonnes, down 20 percent or 1.73 million tonnes from May 31, the government's Bureau of Statistics reported Friday (July 31).

Year-earlier figures weren't given, but total wheat stocks fell by more than half from 14.49 million tonnes on Dec. 31, it reported.

Wheat held on June 30 comprised 5.42 million tonnes of milling grade, or 77 percent of the total, with feed grade comprising the 23 percent balance of 1.58 million tonnes, it reported.

Of total wheat stored on June 30, 2.66 million tonnes, or 38 percent, was held in Western Australia, while 2.55 million tonnes, or 36 percent, was held in New South Wales, with the remainder in other mainland states.

Wheat stocks typically peak after harvest late in the calendar year, then dwindle as a result of exports and domestic use.