Grain Report

Dairy Australia generates a grain report to help farmers make more informed decisions when buying grain. The grain report is updated 40 times per year and provides an independent and timely assessment of grain markets in each dairy region.

Grain prices by location

Select a location to view the grain price:

International and national summary

National background comments: report for the week ending 15 January 2021.

The next update will be on Friday 22 January 2021. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

• After the USDA WADSE report was released on Tuesday, wheat future markets increased by 5%. However, increased domestic demand and relatively stable supply have caused the forecast for US ending wheat stocks to reduce.
• There are reports of China looking to increase their soybean imports in 2020/21, with the Chicago Board of Trade increasing prices for soybean and corn future markets.
• Russia’s agriculture ministry has proposed to further increase the planned wheat export duty as a way to combat the rising domestic cost of food. A duty on other grains is also being proposed under this new scheme.

Driving Prices Down

• After two months of continuous dry conditions, recent rainfall across parts of South America over the past week have helped to improve soil moisture levels and potential corn and soybean yields.
• The USDA annual winter wheat plantings report estimates the planted area for US winter wheat crop to be 32 million acres, a 5% increase compared to previous years.

Global Trade News

• The Ministry of Industry and Trade Supply (MIT) in Jordan, bought 60,000 metric tonnes of milling wheat, paying US$15.20/mt more than their previous tender. Sources suggest this was primarily due to the weakening US dollar, and the increase on future markets published in the USDA report.
• In Egypt, the General Authority for Supply Commodities (GASC) have cancelled a recent tender for 60,000 mt of milling wheat, following offers that were approximately US$30/mt higher than their previous tender in December.
• In Turkey, a state grain buyer has purchased 130,000 mt of feed barley, averaging US$260.53/mt. Reports indicate Turkish barley imports are expected to reach 400,000 mt in 2020/21, a 55% reduction compared to last year.

Local News

• The harvest season in Australia is approximately 98% complete, with over 33 million mt of grain delivered. In South Australia and Victoria, the harvest period is estimated to wrap up over the next few weeks, weather permitting.
• There are reports of weather conditions in eastern Australia, influenced by the La Nina event in the Pacific, will ease up in the early autumn months.

Price change in table below reflects moves since previous report (08 January 2021)

All Location Grain Prices