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TOUGH CONDITIONS... NAB agribusiness economist Phin Ziebell says seasonal conditions and declining winter crop forecasts reflect a drop in the NAB Rural Commodities Index. TOUGH CONDITIONS... NAB agribusiness economist Phin Ziebell says seasonal conditions and declining winter crop forecasts reflect a drop in the NAB Rural Commodities Index.

NAB Rural Commodities Index drops

TOUGH seasonal conditions and unfavourable weather in Western Australia have offset resilient cattle and lamb prices for the National Australian Bank Rural Commodities Index to fall by one per cent this month.

The NAB Rural Commo­dities Wrap shows frost, heat and dry weather in WA and South Australia have affected winter crop conditions and could place forecast yields under pressure.

NAB agribusiness economist Phin Ziebell said the latest Grains Industry of Western Australia’s crop outlook predicts a wheat volume of 6.8 million tonnes, down from the 7.4 million tonnes forecast in August.

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