Australia: Grain growers warned of lower pricing prospects

Published Feb 20, 2024

Tridge summary

Australia's wheat prices have dropped since the beginning of the year due to pressures in grain markets, largely due to a large corn crop. Current port prices for APW quality wheat are around $360 to $370 a tonne on the east coast and SA, and around $400/t in WA, a decrease of about $40/t since the start of the year. Factors such as the Northern Hemisphere crops emerging from winter dormancy and a massive year for corn in the Americas are influencing grain prices. Despite this, Australia's grain export program continues, with significant amounts of wheat and barley exported in December.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Grain exports are flowing from Australia but prices are falling. Photo by Gregor Heard. Wheat prices have dipped since the start of the year in line with broader pressures in grain markets generally, caused primarily by a massive corn crop. At present port prices for the benchmark APW quality wheat sit at around $360 to $370 a tonne on the east coast and SA and around $400/t in WA, back around $40/t since the start of the year. And a leading grain market analyst has warned there is not necessarily any news brewing that will kickstart markets to life throughout the year. "We've had a run of strong pricing years, but this year farmers have to look at the potential that prices could be easy," said Episode 3's Andrew Whitelaw. "Over the last few seasons we have seen markets boosted by either abnormal weather conditions, whether it be local or international drought or geopolitical issues such as the Ukraine war," he said. "At present the market is looking very calm, we're back looking ...
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