Grain Commentary

• Wheat: Steady ($495 to $505/tonne). Barley: Steady ($505 to $515/tonne). Maize: Up $10 ($615 to $625/tonne). Canola Meal: Steady ($610 to $620/tonne).
• Grain markets here have taken on a softer tone over the past week, following rainfall across nearby grain growing areas.
• In Victoria this rain and forecast rainfall for the coming week or so, may be able to stop the declining yield potential, however in other areas this rain will do little to arrest this decline.
• The fact that there is not the same level of prompt demand form domestic buyers, as there has been at other times this year, has made for a lack of market liquidity.
• However, the grain that is trading is generally being brought on a hand to mouth basis.
• It is believed that many end users are covered until harvest time, so around this time we could see a pickup in market activity.

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.