Grain Commentary

• Wheat: Up $20 ($455 to $465/tonne). Barley: Up $30 ($460 to $470/tonne). Maize: Steady ($505 to $515/tonne). Canola Meal: Steady ($500 to $510/tonne).
• The pull of grain from southern cropping areas to northern NSW and southern QLD remains the most dominant market force at play here.
• With buyers from these areas continuing to show firm demand and set the tone in these markets buyers closer to southern grain growing areas have been forced to raise their level of appetite when securing supplies.
• With some southern grain growing areas in reasonable shape and others still looking for further rain in the short term there have been suggestions that sellers could still be holding stock back from the market as part of their own “drought hedge” strategy.

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.