Grain Report

Dairy Australia generates a grain report to help farmers make more informed decisions when buying grain. The grain report is updated 40 times per year and provides an independent and timely assessment of grain markets in each dairy region.

Grain prices by location

Select a location to view the grain price:

International and national summary

National background comments: report for the week ending 1 September 2023.

The next update will be on Friday 8 September 2023. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

• The threat of dry spring conditions continues to support Australia’s domestic grain prices, particularly compared to offshore markets, with El Niño conditions still threatening a dry finish.
  
  
• Dry weather across Canada is offering some support for prices despite the market pricing these in over the last few weeks. StatsCan has forecast Canada’s total wheat production to fall 4.9 million mt to 29.5 million mt (-14.2 per cent) in 2023, 4.5 per cent below the five-year average. Canada’s barley production is expected to drop by 2.1 million mt in 2023 to 7.9 million mt (-20.1 per cent).
  
  

Driving Prices Down

• United States (US) winter wheat harvest is complete, with spring wheat harvest now past halfway complete. This additional supply is adding some downward pressure to the wheat market with US wheat futures nearing levels not seen since early 2021.
  
  
• A substantial Brazilian corn crop is driving increased competition in global markets, which is weighing on prices.

Global Trade News

• The first shipment of Australian barley is heading to China after import restrictions were lifted earlier this month. Reports claim between 700,000 and 1 million mt of barley have been sold to China since the restrictions were lifted.
  
  
• Jordan’s state grain importer purchased 60,000 mt of feed barley at US $254/mt CFR for shipment in February.
  
  
• South Korea’s feed importer Major Feedmills Group purchased 55,000 mt of feed wheat from the Black Sea (excluding Ukrainian and Russian ports) at US$273.80/mt CFR for December delivery.
  
  
• South Korean feed importer Nonghyup Feed Inc purchased 55,000 mt of feed wheat at $273.90/mt CFR for November delivery. The increased interest in feed wheat comes amidst lower prices, prior tenders were focused on corn due to the relatively lower prices compared to feed wheat.

Local News

• Local rainfall recorded across Australia’s key growing regions was minimal this week, with only northern Victoria, southern New South Wales and the southeast of South Australia acquiring greater than 15mm of rain. According to the Bureau of Meteorology, minimal rainfall is forecast throughout South Australia and Queensland throughout the next week.
  
  
• Growers are turning their attention to forward selling with most old crop now sold.
  
  
• Improved access to nitrogen fertilisers in recent weeks, resulting from the arrival of recent shipments, has seen farmers busily applying fertiliser to crops and working on spraying for pests and disease.
  
  Price change in table below reflects moves since previous report (25 August 2023)

All Location Grain Prices