Grain Commentary

• Wheat: Down $5 ($450 to $460/tonne). Barley: Steady ($330 to $340/tonne). Maize: Steady ($515 to $525/tonne). Canola Meal: Steady ($450 to $460/tonne).
• Conditions remain ideal for the new crop across most of the growing areas. Soil temperatures are still warm with nitrogen going on, to have crops well setup before winter.
• Buying interest for wheat has been thin from both end users as exporters as most are well covered for the short to medium term.
• The large inverse to forward prices (drop off between spot and forward) suggests grain growers will not risk holding much stock late into the year.
• Buyer interest has returned to the barley market, and with limited grower selling interest prices have been steady to slightly firmer for the week. The market is still waiting to see how much grower selling increases after planting finishes.
  
  

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.