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 October 2021.

The next update will be on Friday 29 October 2021. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

• China’s Ministry of Agriculture and Rural Affairs (MARA) has reduced its corn production estimates for 2021/22, as rainfall has reduced yields and quality of new corn crops in parts of northern China.
• The USDA’s October World Agricultural Supply and Demand Estimates report has lowered global wheat production estimates, while the poor outlook for the 2021/22 Canadian canola crop has also led to a large decrease in expectations for canola meal exports.

Driving Prices Down

• The USDA’s World Agricultural Supply and Demand Estimates report increased the US output and stock forecasts for both corn and soybeans.
• China’s soybean imports in September fell 29.7% in comparison to the same period last year, due to a drop in demand following poor crush margins driven by high international soybean prices.

Global Trade News

• Bangladesh’s Ministry of Commerce has announced it will restrict all exports of soymeal in an effort to reduce the high prices for animal feed following lobbying from farmers and the animal feed industry.
• Dry bulk freight rates have eased over the past week despite increased volatility. This decline was driven by the ongoing power shortages in China and a fall in factory production.
• Japan's agriculture ministry, the Ministry of Agriculture, Forestry and Fisheries (MAFF) has booked a total of 130,963 mt of US, Canadian and Australian wheat in their recent tender.
• Tunisia's state grain importer, Office des Cereales (ODC) has purchased 100,000 mt of durum wheat for November-December shipment, paying between $677.29/mt and $685.99/mt CFR (cost and freight).

Local News

• Australia’s wheat exports surged in August to hit their highest volume during the month since August 2012. Total wheat exports were 2.17 million mt for the month, up 13% from July and five times higher than August 2020. Barley exports also were up 16% from July while sorghum exports fell.
• Harvest continues to pick up pace in Queensland though is still a few weeks away across most southern regions. Ongoing rainfall across eastern parts of New South Wales and southern Victoria may be of some concern to growers with waterlogging still an issue in some areas.
• The USDA have forecast Australia will make up 12% of global wheat exports in 2021/22 compared to just 5% two years ago.

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

All Location Grain Prices