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GrainCorps Pre-Harvest Optimiser is coming soon! Pre-Harvest Optimiser participants have the ability to take advantage of pre-harvest markets whilst also allowing involvement in any market upside at harvest. Participants will have exposure to northern hemisphere crop conditions with finalisation by July 2014. One key benefit of Pre-Harvest Optimiser is peace of mind knowing that your washout is capped at $25. Contact Greg, Matt, Sarah, Caile and Cecilia for further details.
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21-Jan-2013Daily Prices
North Western VIC - Wheat South Eastern VIC - Wheat
Market Commentary
Dry condition holding on throughout most of Victoria. The lack of substantial moisture starting to weigh on growers minds. There appears to be little rain in site over the next 20 days which will turn our focus to the “Big Break”. Similar to SA we can expect to see a slight increase in wheat hectares planted at the expense of Canola.
We are hearing whispers around the paddock of greater legume hectares this year, to what extent we are mostly unsure at this stage. Kord wheat appears to be the talk of the town given its agronomic qualities (Clear Field) and the ability of it to follow Clear Field Canola in the cropping rotation. The same could be said for Scope barley that has just been updated to a malting variety. Agronomists are saying that with the lack of rain over the summer, there is most likely going to be some chemical residue in the ground which may hamper the more common Wheat and Barley varieties.
Growers appear to be focusing their marketing around the back half of the year as they feel there could be greater demand at this time.
Offshore markets have been quite subdued over the past month due to favourable weather conditions across the US. Winter wheat growing areas as well as funds liquidating their wheat positions.
The increased competitiveness of US orgin wheat has provided some support to the market, however the weight of the sellers is winning out for now. Demand has increased for US wheat with wheat now displacing corn into the feed ration, and there is talk of wheat displacing corn in Ethanol production and increasing export business being concluded.
Growers appear to be focusing their marketing around the back half of the year as they feel there could be greater demand at this time.
Offshore markets have been quite subdued over the past month due to favourable weather conditions across the US. Winter wheat growing areas as well as funds liquidating their wheat positions.
The increased competitiveness of US orgin wheat has provided some support to the market, however the weight of the sellers is winning out for now. Demand has increased for US wheat with wheat now displacing corn into the feed ration, and there is talk of wheat displacing corn in Ethanol production and increasing export business being concluded.
Australian wheat values have largely followed suit however they have reduced competitiveness to other origins as growers are well sold, at the same time there is strong demand by exporters to cover current commitmets. This is exaggerated in some port zones as prices for certain grades differ significantly to other port zones, driven by regional supply and demand anomalies.
Current season grain values are trading at significant premiums to new season values as anticipation grows of a return to normalised northern hemisphere production dynamics, and tight supply situation prior to this new crop competition commences.
Current season grain values are trading at significant premiums to new season values as anticipation grows of a return to normalised northern hemisphere production dynamics, and tight supply situation prior to this new crop competition commences.