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Primary content

Read about the national and international grain market and how grain contributes to farm inputs and costs.

International and national summary

National background comments: report for the week ending 17th November, 2017

The next update will be on Friday 24th November, 2017. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

  • Export demand in the wheat market increased with Algeria and Morocco putting out new tenders and Tunisia and Turkey expected to tender for more wheat as well.
  • Egypt has purchased additional Russian wheat at US$210 and expected to put out a new tender during December.
  • Of the eight major wheat exporter Russia is the only country increasing production this year.

Driving Prices Down

  • The USDA reported further yield increases in the corn market last week and South American yield prospects have improved.
  • The Ruble weakened slightly, softening the value of the Russian crop.
  • The Russian wheat crop now expected up to 83 million tonnes, up one million tonne from previous month. Exports are also raised to 33 million tonnes.
  • The anticipated increase in the Indian wheat import tariff, from 10% to 20%, is likely to negatively impact Ukrainian sales and limit the amount of wheat sold. This could result in lower prices as Ukraine tries to compete with Russian exports.

Global Trade News

  • The new US winter wheat crop is expected to be 95% planted and conditions have improved slightly.
  • US wheat ending stock are projected to reach 945 million bushel, down 246 million from previous year but above the five year average.

Local News

  • Forecasts suggest 25-50 millimetres of rain for New South Wales and Victoria, which might delay harvest and lead to quality downgrades.
  • Canola prices firmed due to lower production and improves export prospects.
  • Reportedly frost damage to crops in northern regions of western districts, Skipton, Beaufort and Tatyoon, resulted in yield reductions up to 30%. The damage is largely to late wheat crops, earlier crops are largely unharmed. 
  • Wheat harvest is almost completed in regions as far south as Trangie and Gilgandra and the barley harvest is underway.  
  • Wheat prices are close to export parity in New South Wales which could provide a price floor going forward.
17-November-2017 Grain
Wheat Barley Maize Sorghum
Atherton Tableland Price Range $345 $355 $475 $485 $425 $435 $305 $315
Change $5 $5 $10 Steady
Darling Downs Price Range $330 $340 $325 $335 $365 $375 $310 $320
Change $5 $5 $10 $5
North Coast of NSW Price Range $315 $325 $310 $320 $370 $380 $270 $280
Change -$5 -$5 $10 -$5
Central West NSW Price Range $265 $275 $240 $250 $330 $340 $255 $265
Change -$5 $5 $10 $5
Wheat Barley Maize Canola meal
Bega Valley Price Range $310 $320 $290 $300 $380 $390 $410 $420
Change -$5 $5 $10 Steady
Goulburn / Murray Valley Price Range $255 $265 $235 $245 $320 $330 $380 $390
Change Steady Steady $10 Steady
Gippsland Price Range $295 $305 $275 $285 $370 $380 $400 $410
Change Steady Steady $10 Steady
South West Victoria Price Range $260 $270 $240 $250 $380 $390 $410 $420
Change Steady Steady $10 Steady
South East South Australia Price Range $245 $255 $225 $235 $400 $410 $435 $445
Change Steady -$5 $10 Steady
Central Districts of SA Price Range $240 $250 $220 $230 $385 $395 $440 $450
Change Steady Steady $10 Steady
Wheat Barley Triticale Oats
South West of WA Price Range $270 $280 $260 $270 $305 $315 $150 $160
Change Steady Steady $10 -$5
Wheat Barley Maize Canola meal
Tasmania Price Range $315 $325 $305 $315 $400 $410 $440 $450
Change Steady Steady $10 $10

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