Grain Commentary

• Wheat: Up $30 ($470 to $480/tonne). Barley: Up $10 ($395 to $405/tonne). Maize: Up $10 ($515 to $525/tonne). Canola Meal: Steady ($450 to $460/tonne).
• The low Australian dollar has seen markets become very busy over the last week. The rising prices has bought growers into the market selling both grain on hand and making forward sales.
• Wheat prices were firmer over the past week due to the low Australian dollar and rising offshore markets.
• This saw export traders as the most aggressive bidders in the market as Australian wheat has become more export competitive.
• Barley prices followed wheat higher, however there was not the same push on the bid side. More grower selling of wheat this week has further skewing the amount of unsold old crop towards barley.

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.