Grain Commentary

• Wheat: Down $10 ($420 to $430/tonne). Barley: Down $10 ($400 to $410/tonne). Maize: Steady ($550 to $560/tonne). Canola Meal: Steady ($465 to $475/tonne).
• Favourable conditions have continued to bless the south east corner of the country with good rainfall in recent weeks. As a result, many growers are expecting high yield potential which may occur dependent on solid spring rainfall.
• Demand for old crop wheat has been slow with end-users waiting for prices to soften. Selling has been slower than some would have expected on wheat, with more focus on barley from growers.
• Sluggish sales have pulled new crop wheat closer to the old crop market. An increase in the offshore production estimates has softened local pricing and appears to have put many sellers on the back foot.
• Barley continues to move in small parcels with larger orders becoming hard to come by. Growers have been active on new crop selling and consumer demand from northern NSW and QLD has added to support.
  
  

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.