Grain Report

Dairy Australia generates a grain report to help farmers make more informed decisions when buying grain. The grain report is updated 40 times per year and provides an independent and timely assessment of grain markets in each dairy region.

Grain prices by location

Select a location to view the grain price:

International and national summary

National background comments: report for the week ending 16 April 2021.

The next update will be on Friday 23 April 2021. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

• Chinese soybean imports for March nearly doubled year on year, mainly driven by a boost in demand from China as the country continues to rebuild its hog herd.
• Corn futures have recently hit new highs due to strong Chinese purchasing and expectations of a smaller-than-expected planted area next season following ongoing dry weather.
• A weakening US dollar and high US inflation figures released this week caused markets to turn towards hedging strategies. This saw grain prices increase.

Driving Prices Down

• Worldwide production of wheat is still at record highs, putting some pressure on global wheat prices. Increased consumption, particularly from China is partially offsetting this.
• Crops in the northern hemisphere are emerging from dormancy and appear to be fair to above average conditions, supported by favourable seasonal conditions.
• A cut to the USDA’s forecast of US soybean crush volumes and an increase in its ending stocks level for the 2020/21 season, has put some downward pressure on prices.
  
  

Global Trade News

• South Korea’s Feed Leaders Committee (FLC) privately purchased 65,000 mt of corn from Viterra, paying $296.79/mt CFR for a July shipment.
• South Korean Major Feedmills Group (MFG) has announced a tender to import 55,000-70,000 mt of feed wheat for August-October shipment.
• Japan’s agriculture ministry, the Ministry of Agriculture, Forestry and Fisheries (MAFF), has announced a tender to import over 90,000 mt of Canadian and US milling wheat for June shipment.

Local News

• CBH has confirmed that "significant damage" occurred at the company’s Geraldton port after Cyclone Seroja passed through the region. No timeframe has been provided as to when it is expected to return to full capacity operation.
• Substantial rainfall throughout much of Western Australia’s grain belt following Cyclone Seroja, has set the state up for its biggest canola planting on record, an expected planted area of 1.4 million hectares.
• Government incentives and favourable weather have seen a significant increase in tractor, harvester and sprayer purchases, as farmers look to capitalise on the strong seasonal conditions.

Price change in table below reflects moves since previous report (9 April 2021)

All Location Grain Prices