Australian wheat stocks fall nine percent

Australian wheat stocks fell by 9 percent in March from February, government data on showed on Tuesday, as exports by the world's fourth-biggest shipper picked up pace led by sales of higher quality milling wheat. Traders forecast that exports would remain strong over the next few months. Australia is the top exporter to Indonesia and also a major seller to Korea and Japan, while Chinese exports are expected to grow.
Australia's bulk storage of wheat fell 2 million tonnes from the previous month to 21.3 million tonnes at the end of March, the Australian Bureau of Statistics said.