Australia: South softens, north firms

Prices for feedgrain in southern markets have eased a few dollars in the past week but firmed in the north, as sorghum harvesting and sales straight off the header dampen selling interest in white grains. ABARES has this week released its forecasts for 2023-24 wheat and barley production, and the numbers are in line with expectations. Amid forecast drier conditions, area planted to wheat is estimated by ABARES to decrease from 13 million hectares in 2022-23 which yielded 39.2Mt to 11.8-12.5Mha producing 28.2Mt. Barley area is expected to drop, but to a lesser degree than wheat, to produce 9.9Mt million tonnes, down from 14.1Mt in the harvest just gone. On exports, ABARES forecast wheat at a record 28Mt in 2022-23 and 22.5Mt in 2023-24, while barley is seen at 8.7Mt of current crop, or 2pc below the record set in 2016-17, and 5.8Mt of new crop. Growers across southern Australia are starting to plant oat and dual-purpose canola and cereal crops in mostly dry conditions, while in ...