Grain Commentary

• Wheat: Steady ($430 to $440/tonne). Barley: Steady ($365 to $375/tonne). Maize: Steady ($475 to $485/tonne). Canola Meal: Steady ($455 to $465/tonne).
• Another week of mixed weather conditions has again put the brakes on harvest progress and this has seen the sell side (especially growers) take a conservative approach.
• In some of the northern and central grain growing areas of Victoria some reports are suggesting that yields have been at the lower end of pre-harvest expectations.
• Wheat prices have been steady, with buyers unwilling to bid up this market too much in the expectation of more harvest sales in the coming weeks.
• Feed barley is also finding some demand, with sellers having a sell side with reasonable depth to sell into.

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.