Report

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:

  • Location: Atherton Tablelands

    Week Ending16 October 2020
  • Location: Darling Downs

    Week Ending16 October 2020
  • Location: North Coast NSW

    Week Ending16 October 2020
  • Location: Central West NSW

    Week Ending16 October 2020
  • Location: Bega Valley

    Week Ending16 October 2020
  • Location: Gippsland

    Week Ending16 October 2020
  • Location: Goulburn & Murray Valley

    Week Ending16 October 2020
  • Location: South West Victoria

    Week Ending16 October 2020
  • Location: South East SA

    Week Ending16 October 2020
  • Location: Central SA

    Week Ending16 October 2020
  • Location: South West WA

    Week Ending16 October 2020
  • Location: North West Tasmania

    Week Ending16 October 2020

International and national summary

National background comments: report for the week ending 9 October 2020.

The next update will be on Friday 16 October 2020. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

  • World wheat prices have rallied due to lower US wheat stocks for 2020/21, diminishing production prospects in Argentina and dry conditions impacting winter wheat plantings in Europe and Russia.
  • Global barley prices have increased, supported by strength in other grain markets.
  • The USDA World Agricultural Supply and Demand Estimates will be released on October 9 (US time) with the expectation that the United States and South American grain production will be revised downwards. If the production cuts are greater than the market anticipates, this is likely to see grain futures increase.
  • The canola harvest is wrapping up in Canada and selling has slowed, which is pushing prices higher. Spill over support from strong Chicago soybean futures is also underpinning canola futures.

Driving Prices Down

  • Favourable harvest conditions in the United States is progressing the corn and soybean harvest, with harvest selling keeping prices from rallying more sharply.
  • If the upcoming USDA World Agricultural Supply and Demand Estimates are larger for global ending stocks, this will keep pressure on world cereal and oilseed prices.
  • The lack of US export sale announcements to China, during the mid-Autumn festival holiday, has added some balance to future prices.

Global Trade News

  • Tunisia’s state grain buyer (ODC) purchased 92,000mt of milling wheat on October 5 at an average price of $US264/t CFR, this is $US23/tonne more expensive than their previous tender. There is growing concern that domestic instability due to COVID-19 restrictions may impact imports, as discontent workers strike at ports.
  • China is the world’s largest soybean importer, and recent buying sprees of US and Brazil soybeans indicates China is stockpiling soybeans, most likely filling the feed deficit left by recent typhoons that wiped out some domestic grain production. China continued to be a big soybean buyer in September, with exports to China accounting for 78% of Brazil’s soybean exports that month.
  • Japan has released a tender for 118,000mt of milling wheat from Australia, Canada, and the US. The USDA predicts that Japan will purchase around 5.6 million tonnes of wheat in 2020/21.

Local News

  • Winter crops continue to progress across Australia, and the harvest has commenced with early deliveries being received in Queensland, northern New South Wales and South Australia.
  • Weather conditions have remained warm and dry over much of Queensland, while South Australia and Victoria were the only states to receive significant amounts of rainfall in the past week.
  • A strong global cash market has seen new wheat and barley crop prices firm, however expectations of a large Australian crop are helping to keep domestic prices in check, to an extent.
  • Canola prices have generally increased in comparison to last week with prices on the higher end of the forecast price range. Increased amount of selling is expected at harvest.

Price change in table below reflects moves since previous report (2 October 2020)

All Location Grain Prices

15 October 2020

Wheat

Barley

Maize

Sorghum

Atherton Tablelands
Price range
Change
$350 - $360
$5
$275 - $285
Stedy
$385 - $395
Steady
$320 - $330
Steady
Darling Downs
Price range
Change
$305 - $315
$5
$250 - $260
Steady
$385 - $395
Steady
$315 - $325
Steady
North Coast NSW
Price range
Change
$260 - $270
$15
$205 - $215
$10
$375 - $385
Steady
$245 - $255
Steady
Central West NSW
Price range
Change
$240 - $250
$5
$195 - $205
Steady
$350 - $360
-$5
$250 - $260
Steady

Wheat

Barley

Maize

Canola meal

Bega Valley
Price range
Change
$305 - $315
$5
$245 - $255
$5
$385 - $395
Steady
$365 - $375
-$5
Gippsland
Price range
Change
$320 - $330
$20
$245 - $255
$10
$395 - $405
Steady
$370 - $380
$10
Goulburn & Murray Valley
Price range
Change
$285 - $295
$10
$220 - $230
Steady
$385 - $395
Steady
$360 - $370
-$5
South West Victoria
Price range
Change
$280 - $290
$10
$215 - $225
$10
$395 - $405
-$10
$370 - $380
$15
South East SA
Price range
Change
$300 - $310
$5
$230 - $240
-$5
$295 - $305
Steady
$455 - $465
Steady
Central SA
Price range
Change
$295 - $305
$5
$225 - $235
$10
$375 - $385
Steady
$475 - $485
Steady
North West Tasmania
Price range
Change
$410 - $420
$10
$335 - $345
$10
$405 - $415
-$10
$460 - $470
-$10

Wheat

Barley

Triticale

Oats

South West WA
Price range
Change
$325 - $335
$20
$255 - $265
$5
$285 - $295
Steady
$275 - $285
-$15
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.

About the Grain Report

Why the grain report is created

Farmers, government, industry advocacy and businesses across the supply chain require independently produced, unbiased data on the industry to inform strategic decisions and policy formation.

Grain reports provide an independent industry view, bringing together key data and insights across the supply chain and industry without any vested interest.

The grain report is created using data provided by Profarmer Consulting.


Interpreting the reports

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 quality wheat available in a region (ASW, AGP, SFW1 or FED1) and F1 for barley.

Watch this video of dairy farm manager Brian Corr explaining how the weekly hay and grain email updates help him make more informed decisions on-farm.


X
Cookies help Dairy Australia improve your website experience. By using our website, you agree to our use of cookies.
Confirm