Australia: Wheat, sorghum firm amid thin trade

Published Mar 18, 2024

Tridge summary

Wheat prices are on the rise due to limited supply from growers and increased export demand, while barley prices remain steady or are decreasing due to lack of interest. The ongoing sorghum harvest in northern New South Wales and southern Queensland has led to a slight increase in prices. Meanwhile, growers in south-eastern Australia are starting to plant grazing oats and dual-purpose canola. Domestic consumers have ample wheat stocks as they shift from summer to winter rations. The primary demand for sorghum comes from the poultry and pig sectors, with enough supply expected to last until the harvest peak in April-May.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Prices for wheat have firmed in the past week in response to thin selling from growers and the re-emergence of some modest export demand, while barley has traded sideways to lower on lacklustre interest. The sorghum harvest is gathering pace in northern New South Wales and southern Queensland, but early volume is limited so prices have crept up a dollar or two. Growers across south-eastern Australia are making a start on early-season planting of grazing oats, and of dual-purpose canola ahead of the main winter-crop seeding window opening next month. Table 1: Indicative prices in Australian dollars per tonne. Domestic consumers remain well covered on wheat as they switch from summer to winter rations, and away from barley for the cooler months. “You’re working hard to get people to put up their hands,” one trader said. On sorghum, feeding demand is confined to the poultry and pig sectors, with both seen as having enough coverage to get them into April-May, when harvest volume is ...
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