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 09 April 2021.

The next update will be on Friday 16 April 2021. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

• Increased demand for grain, particularly from China, may increase corn and soybean prices. Analysts suspect the increasing prices will increase demand for wheat as a cheaper feed source.
• Sources indicate end stocks for US soybeans will be approximately 4.3 million tonnes, 2.5% lower than last month, due to strong Chinese demand.
• In February, US soybean crushing volumes decreased by 16% against January, as a cold snap came through and hit the processors.

Driving Prices Down

• After the reopening of the Suez Canal allowing traffic to resume, fuel prices eased and freight rates for dry commodities have reduced.
• Argentine farmers are reportedly expected to plant over 7 million hectares of wheat in the 2021/22 crop cycle, with estimates for wheat production sitting around 20-21 million tonnes. In 2020/21, wheat production came to 17 million tonnes.
  
  

Global Trade News

• South Korea’s Nonghyup Feed Inc (NOFI) booked 60,000 mt of soybean meal for September arrival, paying $479.35/mt CFR (cost and freight) with the cargo expected to be sourced from South America.
• Jordan’s state grain importer has purchased 60,000 mt of feed barley for shipment in the second half of October paying paid $253/mt CFR.
• Thailand’s Feed Miller's Association (TFMA) is looking to purchase feed wheat for May through December shipment. The TFMA is tendering for 46,000-63,000 tonnes monthly, with a total of eight cargoes of up to half a million tonnes.
• Egypt’s state grain buyer, General Authority for Supply Commodities (GASC) has booked 345,000 tonnes of Russian and Ukrainian milling wheat for import paying an average of $233.65/mt FOB and $252.09/mt CFR. Egypt imports the most wheat in the world, with the USDA estimating imports of 13 million tonnes this marketing year (2020/21).

Local News

• The 2020-2021 La Nina weather pattern is likely to transition to neutral over the next few months, with above average rain continuing through April.
• Maize and sorghum prices have jumped in New South Wales after the recent floods, whilst grain prices further south have decreased. Nutritionists are recommending farmers in this region explore all feed options, particularly byproducts and concentrates, to spread feed risks.
• Regions within Queensland and New South Wales are contesting with feed grain quality issues following widespread rainfall, flooding and the recent mice plague. Southern Australia regions have seen grain values firm from limited grower selling.
• Summer weed control is in progress throughout the grain belts across Australia, with farmers preparing paddocks for seeding with rain forecast in WA.

Price change in table below reflects moves since previous report (26 March 2021)

All Location Grain Prices