Report

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:

  • Location: Atherton Tablelands

    Week Ending16 October 2020
  • Location: Darling Downs

    Week Ending16 October 2020
  • Location: North Coast NSW

    Week Ending16 October 2020
  • Location: Central West NSW

    Week Ending16 October 2020
  • Location: Bega Valley

    Week Ending16 October 2020
  • Location: Gippsland

    Week Ending16 October 2020
  • Location: Goulburn & Murray Valley

    Week Ending16 October 2020
  • Location: South West Victoria

    Week Ending16 October 2020
  • Location: South East SA

    Week Ending16 October 2020
  • Location: Central SA

    Week Ending16 October 2020
  • Location: South West WA

    Week Ending16 October 2020
  • Location: North West Tasmania

    Week Ending16 October 2020

International and national summary

National background comments: report for the week ending 16 October 2020.

The next update will be on Friday 30 October 2020. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

  • Last week the latest USDA World Agricultural Supply and Demand Estimates (WASDE) report was released. Following the release soybean markets gained the most support, however, some of this price strength spilled over into wheat and corn markets.
  • US soybean end stocks were down 37% month-on-month, driven by slightly lower production in the US and increases in domestic and export demand.
  • In the US, winter wheat planting continues to progress at an above average pace, however, more rainfall is needed to help crops establish before they go into winter dormancy.
  • Russia and other Black Sea countries have had a similarly dry start to their winter wheat planting season. However, better weather is expected by the end of the month.

Driving Prices Down

  • In the US, the harvest of spring corn and soybean crops continues to make solid progress. However, harvest has been unable to arrest the upward price momentum seen in following the latest WASDE report.
  • With this month’s WASDE report showing (yet another) small increase in world wheat stocks and production, a higher probability of a crop failure in the Northern Hemisphere (beyond what is already priced in) is likely needed for the market to rally significantly higher.

Global Trade News

  • Reserves of corn in China are believed to be getting low enough for corn future prices to reach new highs.
  • This has prompted speculation that China may look to raise their current import quota for corn.
  • With grain and feed markets already taking a bullish view on Chinese demand for US agricultural goods, any such move would be expected to bring further support to these markets.
  • Chinese corn imports for the first eight months of this year are already reportedly up to 50% higher than last year, with most of this stock coming from the US and Ukraine.

Local News

  • The harvest has started in northern regions, with dry weather in Queensland and Western Australia in particular having accelerated crop maturity.
  • A La Nina has been declared until at least January 2021, which is raising concerns about a wet harvest. This could see large areas of crop downgraded due to quality issues such as sprouted grains.
  • Strength in offshore markets has seen new crop prices firm this week. New harvest selling in coming months may put some pressure on prices.
  • Barley inclusion in domestic feed rations will continue to be high given the large price spread to wheat.

Price change in table below reflects moves since previous report (9 October 2020)

All Location Grain Prices

15 October 2020

Wheat

Barley

Maize

Sorghum

Atherton Tablelands
Price range
Change
$350 - $360
$5
$275 - $285
Stedy
$385 - $395
Steady
$320 - $330
Steady
Darling Downs
Price range
Change
$305 - $315
$5
$250 - $260
Steady
$385 - $395
Steady
$315 - $325
Steady
North Coast NSW
Price range
Change
$260 - $270
$15
$205 - $215
$10
$375 - $385
Steady
$245 - $255
Steady
Central West NSW
Price range
Change
$240 - $250
$5
$195 - $205
Steady
$350 - $360
-$5
$250 - $260
Steady

Wheat

Barley

Maize

Canola meal

Bega Valley
Price range
Change
$305 - $315
$5
$245 - $255
$5
$385 - $395
Steady
$365 - $375
-$5
Gippsland
Price range
Change
$320 - $330
$20
$245 - $255
$10
$395 - $405
Steady
$370 - $380
$10
Goulburn & Murray Valley
Price range
Change
$285 - $295
$10
$220 - $230
Steady
$385 - $395
Steady
$360 - $370
-$5
South West Victoria
Price range
Change
$280 - $290
$10
$215 - $225
$10
$395 - $405
-$10
$370 - $380
$15
South East SA
Price range
Change
$300 - $310
$5
$230 - $240
-$5
$295 - $305
Steady
$455 - $465
Steady
Central SA
Price range
Change
$295 - $305
$5
$225 - $235
$10
$375 - $385
Steady
$475 - $485
Steady
North West Tasmania
Price range
Change
$410 - $420
$10
$335 - $345
$10
$405 - $415
-$10
$460 - $470
-$10

Wheat

Barley

Triticale

Oats

South West WA
Price range
Change
$325 - $335
$20
$255 - $265
$5
$285 - $295
Steady
$275 - $285
-$15
Whilst all reasonable steps have been taken to ensure the accuracy of the information contained in this report, to the fullest extent permitted by Australian law Dairy Australia disclaims all liability for any inadvertent errors and for any losses or damages stemming from reliance upon its content. Dairy Australia recommends that all persons seek independent advice and, where appropriate, advice from a qualified adviser, before making any decisions about changes to business strategy.

About the Grain Report

Why the grain report is created

Farmers, government, industry advocacy and businesses across the supply chain require independently produced, unbiased data on the industry to inform strategic decisions and policy formation.

Grain reports provide an independent industry view, bringing together key data and insights across the supply chain and industry without any vested interest.

The grain report is created using data provided by Profarmer Consulting.


Interpreting the reports

Prices are estimates based on delivery to dairy farms with allowance for freight, storage, and marketing costs, but exclusive of GST. Wheat prices are for the relevant stockfeed quality wheat available in a region (ASW, AGP, SFW1 or FED1) and F1 for barley.

Watch this video of dairy farm manager Brian Corr explaining how the weekly hay and grain email updates help him make more informed decisions on-farm.


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