In May, Rabobank projected the wheat crop could come in as low as 21.3 million tons, down more than 40% on the previous year. Now, the bank predicts it could come in as high as 30 million tons. That’s smaller than last year’s 35.8 million tons, but still above the 10-year average for Australia’s wheat production. Bendigo Bank Agribusiness’ revised forecast is similar at around 30 million tons, with a potential upside of up to 33 million tons.