Australia: Appetite to buy grain increases

Published Mar 30, 2024

Tridge summary

The Australian grain market is experiencing a surge in demand, with the number of grain buying businesses using the Clear Grain Exchange increasing to 46 from 36 in just a week. This heightened interest spans across major grain-producing states and encompasses various grains like wheat, barley, and canola. Market sentiment is shifting, with prices either stabilizing or rising due to a stronger buyer appetite, leading to adjustments in bid prices to meet grower offers. This comes after a period of cautious buying that had previously depressed grain prices. Additionally, global agricultural markets are keeping a close eye on the northern hemisphere's crop conditions, weather forecasts, and potential supply disruptions from conflict, amid expectations of lower global wheat stocks and higher corn stocks in the upcoming seasons.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Demand for Australian grain continued to improve last week with 46 grain buying businesses purchasing grain offered for sale through Clear Grain Exchange. This compares with 36 buyers purchasing grain through Clear Grain Exchange the week before, and it should be noted that more buyers were actively searching for grain offered for sale. The demand was relatively evenly spread across the major grain growing states with 16 different buyers purchasing grain in NSW, 18 in VIC, 10 in SA, and 22 in WA. Buyer appetite was evident across wheat, barley and canola which made up 36 per cent, 31pc, and 31pc respectively of all grain traded through the exchange with the balance being pulses and oats. The demand was from a broad spectrum of buyers including both bulk and container exporters, domestic users stepping back in to cover requirements, and domestic and international traders. The market evidence indicates a potential continuation of a shift in sentiment emerging which this column ...
Source: Farmweekly
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