Floods in Australia threaten wheat supply for bread and noodles

Flooding in eastern Australia will likely put a damper on the international wheat market which was counting on a bumper harvest from Australia to ease tight inventories and cool food costs.

SYDNEY: Flooding in eastern Australia is hurting the quality of the wheat harvest in one of the world’s biggest exporters, worsening a global shortage of the high-grade variety used to make bread and ramen noodles.

That’s going to put a damper on the international wheat market which was counting on a bumper harvest from Australia to ease tight inventories and cool food costs.