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 05 August 2022.

The next update will be on Friday 12 August 2022. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

• Global corn markets found some support late last week due to hot, dry weather forecasts across the United States (US) corn belt. However, diminishing soil moisture reserves remain a concern.

Driving Prices Down

• International wheat and corn markets fell as the first shipment from Ukraine arrived in Turkey and passed inspection, with this deal between Ukraine, Russia, Turkey and the United Nations (UN) bolstering prospects of further exports from Ukraine in the near future.
• Soybean futures markets have come under pressure as concern grows around reduced Chinese demand (the largest buyer of US soybeans) after House Speaker Nancy Pelosi’s visit to Taiwan.

Global Trade News

• Philippines grain buyer San Miguel issued a tender for Australian feed wheat and barley to be shipped during October/November.
• Taiwanese feed association MFIG purchased around 55,000 mt of corn at around $334.30/mt CFR Taiwan sourced from South America, through Viterra for October/November shipment.
• Jordan’s state grain importer, The Ministry of Industry, Trade and Supply (MIT) booked 60,000 mt of feed barley for January 2023 shipment through Viterra at $336/mt CFR Aqaba.
• Dry bulk freight rates continued to weaken over the past week due to deteriorating demand for coal and iron ore imports from China on the back of a downbeat Chinese economy.

Local News

• The Australian Oilseed Federation have increased their canola production forecast for the 2022/23 Australian crop. Forecasts were increased to 5.5 million mt, the second largest on record and a 6 per cent increase on the last forecast. Favourable conditions and a record 3.425 million hectares planted drive this increased production estimate.
• The Australian Grains Industry Conference (AGIC) took place last week, discussions were dominated by ongoing issues with the supply chain at both a domestic and international level. This is following bumper crops over the last couple of seasons and another strong crop expected for the 2022/23 season.
• The Bureau of Meteorology (BOM) have updated their three-month forecast, indicating an increased chance of above-average rainfall for much of Australia through to the end of spring. These conditions being driven by the likely return of La Niña in the Spring and the formation of a negative Indian Ocean Dipole (IOD) weather pattern to our west.

Price change in table below reflects moves since previous report (29 July 2022)

All Location Grain Prices