Grain Commentary

• Wheat: Up $5 ($455 to $465/tonne). Barley: Up $10 ($415 to $425/tonne). Maize: Steady ($495 to $505/tonne). Canola Meal: Steady ($455 to $465/tonne).
• Grower selling has remained slow over the last week, but if further rainfall is seen it may entice more growers to enter the market.
• Despite rainfall across the region offering improved feed conditions looking forward, both wheat and barley markets have remained firm this week.
• The rainfall has also seen some forward crop contracting, as growers begin to build confidence in soil moisture profiles for next season’s winter cropping season.
• Price direction for markets in these areas is likely to be dictated by the amount of grower selling across the next few weeks.

Notes:

Change in price is the change since the last report. 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 wheat available in a region (ASW, AGP, SFW1 or FED1) and F1 for barley.

This report has been commissioned by Dairy Australia to provide an independent and timely assessment of grain and hay markets in each dairying region. It should be remembered that actual prices may vary for quality or other reasons. 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.