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 24 November 2023.

The next update will be on Friday 8 December 2023. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

• Local traders and feedlots are continuing to lock in their oat purchases, with feed oat prices continuing to increase as a result.

Driving Prices Down

• Australian wheat markets are mostly lower than this time last week, as harvest pressure and a stronger Australian dollar weigh on prices. Additionally, decent end user coverage into 2024 is limiting buying activity, particularly in Queensland and northern New South Wales.
  
  
• Barley markets are expected to encounter growing downward pressure on prices as harvest continues across southern Australia. Malt spreads will continue to narrow to feed grades in southern regions as high malt rates are expected.
  
  
• Global grain markets have been under continued pressure over the past week amidst strong supplies out of the Black Sea. Markets are particularly weather driven in the northern hemisphere at this time of year following winter crop planting.

Global Trade News

• The International Grains Council (IGC) November forecasts have left global grain trade estimates at 410 million mt which is four per cent below last year.
  
  
• Ukraine’s Danube River ports have now shipped over 27.6 million mt of cargo through until November 2023. This compares to just 12.6 million mt over the same period in 2022 with the river becoming a key export rout following Russia withdrawal from the Black Sea grain corridor.
  
  
• A Taiwanese feed group purchases 65,000 mt of US corn for Jan/Feb shipment at US $258.61/mt CFR.
  
  
• Korea Feed Association and the Feed Leaders Committee purchased 68,000 mt of soybean meal at around US $557.53/mt CFR for February loading.

Local News

• West Australian grain company CBH have stated that receivals over the past week hit 1.52 million tonnes, taking the total 6.91 million tonnes for this season. With harvest mostly complete in the northern states, GrainCorp have received over 1.591 million tonnes this week, finishing at a total of 3.948 million tonnes. Viterra received 928,204 tonnes across South Australia last week which took total grain deliveries past 3.4 million tonnes. The Central region took the majority of deliveries.
  
  
• Australian Crop Foresters released their November Crop Forecast report last week, with national wheat production up 2 per cent from the previous month to 25.9 million tonnes. Declines in Western Australia were more than offset by increases to Victorian wheat production, which is now estimated at 5.5 million tonnes.
  
  Price change in table below reflects moves since previous report (17 November 2023)

All Location Grain Prices