AUSTRALIA is on track to export 16 million tonnes of wheat this season, despite interruptions caused by the recent wet conditions.

Storey Marketing Services principal Ron Storey said export data and planned shipping schedules suggested 16 million tonnes of wheat exports was achievable this season, making it "up there with some of the best in the past four or five years".

The figure includes wheat shipped in containers, which Mr Storey estimated to be about 2.5 million tonnes.

Australia has exported more than 16 million tonnes of wheat only four times in the past 25 years.

The most recent time was in 2003-04, when 17.6 million tonnes was shipped.

Mr Storey based his forecast for 2010-11 exports on Australian Bureau of Statistics data for actual shipments during October, November and December last year, along with bookings recorded in bulk handlers' shipping stems for January through to June.

He said there was always the chance that wheat traders might not actually export what they intended - as recorded in the shipping stems - but the booking fee of about $5 a tonne was a "powerful incentive" to ensure they did not back out of the export program.

For a Panamax vessel of 50,000 tonnes, that meant an exporter would have to forfeit $250,000 if a shipment did not go ahead as planned.

When heavy rain during December and January downgraded much of the nation's grain crop, growers became concerned traders would not be able to export much feed wheat.

But grain exporters sought to reassure growers there were export inquiries for feed wheat, driven by a shortage of US corn for Asian markets and logistics problems in shipping out of the US.

The heavy rain over the Australian harvest caused extensive damage to rail lines in Victoria, potentially impeding some export shipments.

But Mr Storey said no evidence had emerged that the export program had been set back.

"Whether there has been sufficient road uptake, I don't know," he said.

"I thought we would drop off the pace in December because of the rain.

"February shipping stems show two million tonnes is planned to be exported that month.

"And we are running consistently at one and a half million tonnes for other months."