A bumper spring is expected for livestock producers, and grain growers are anticipating the nation's third-largest crop on record, ahead of above-average rainfall forecast for parts of Australia over the next few months.

The Australian Bureau of Agricultural and Resource Economics and Sciences' (ABARES) latest agricultural commodities report estimates the national grain crop will reach 62 million tonnes this financial year, including a wheat crop approaching 34 million tonnes.

"After a very unfavourable start to the winter season, particularly in South Australia and parts of southern NSW, we've had some fairly good rainfall … which has really helped that area start to drive on," ABARES executive director Jared Greenville said.

ABARES is forecasting the value of Australian agriculture

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