Report

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:

  • Location: Atherton Tablelands

    Week Ending26 February 2021
  • Location: Darling Downs

    Week Ending26 February 2021
  • Location: North Coast NSW

    Week Ending26 February 2021
  • Location: Central West NSW

    Week Ending26 February 2021
  • Location: Bega Valley

    Week Ending26 February 2021
  • Location: Gippsland

    Week Ending26 February 2021
  • Location: Goulburn & Murray Valley

    Week Ending26 February 2021
  • Location: South West Victoria

    Week Ending26 February 2021
  • Location: South East SA

    Week Ending26 February 2021
  • Location: Central SA

    Week Ending26 February 2021
  • Location: South West WA

    Week Ending26 February 2021
  • Location: North West Tasmania

    Week Ending26 February 2021

International and national summary

National background comments: report for the week ending 26 February 2021.

The next update will be on Friday 12 March 2021. Direct links to reports on each dairy region immediately follow this international and national summary for grain.

Driving Prices Up

  • The Intercontinental Exchange (ICE) canola futures for March 21st rose above $800 per tonne. Canola supply in Canada is tight while there is continued demand.
  • Russia’s weekly wheat exports doubled to 1.6 million tonnes ahead of the implementation of the wheat export tax. The Russian government implemented a €25/t duty from the 15th of February through to the 28th of February with the tax rising to €50/t between March 1 and June 30 period, in an attempt to put a stop to recent inflation on Russian food prices.
  • Brazilian soybean harvest is reportedly only 15% complete following a delayed start to harvest due to rainfall and late crop maturity, impacted exports.
  • The depreciated US dollar against other major world currencies have reportedly helped support future markets whilst enhancing the US grains in the competitive market.

Driving Prices Down

  • US soybean exports to China were reduced for the week ending February 18, following the week-long Lunar New Year holiday. Chinese demand for soybeans is reportedly shifting to South America as their soybean harvest progresses.
  • World grain stocks are reportedly still at relatively high levels, especially world wheat stocks. Demand remains strong from major importers such as China and India.

Global Trade News

  • The Ukraine is reportedly looking to import soybeans after a small crop yield this season, and a lack of interest from farmers in selling. Local prices have surged as a result, with crushers now looking towards Brazil for alternative supply.
  • Japan’s agricultural ministry have announced a tender to import 57,331 tonnes of Australian milling wheat for May delivery. The USDA have forecast that Japan is expected to book approximately 5.6 million tonnes of wheat during the 2020/21 year.
  • Reports indicate Argentina’s barley exports to China are expected to skyrocket by up to 300% to 1.5 million tonnes for the 2020/21 year. China is also reported to be lining up purchases for the 2021/22 barley crop.
  • US wheat export sales reportedly fell by 22% for the week to February 18. Sources suggest this result was lower than market expectations, with China being the largest buyer followed by Peru and Nigeria.

Local News

  • Following favourable climate conditions, Australian locust numbers are believed to be at their highest level in almost seven years according to the Australian Plague Locust Commission. Above average volumes have been recorded in western and northern New South Wales, southern Queensland, and parts of Western Australia.
  • A strengthening Australian dollar has seen export demand for Australian grain fall in comparison to last week.
  • There are reports of low grain stock in the EU and export quotas placed on Russian wheat, consequently supporting Australian grain prices.
  • The recently announced feed mill, to be built at Cuballing in Western Australia is reported to be up and running by October prior to harvest, with construction starting in the coming weeks.

Price change in table below reflects moves since previous report (12 February 2021)

All Location Grain Prices

26 February 2021

Wheat

Barley

Maize

Sorghum

Atherton Tablelands
Price range
Change
$340 - $350
-$5
$300 - $310
Steady
$390 - $400
-$5
$340 - $350
Steady
Darling Downs
Price range
Change
$305 - $315
Steady
$270 - $280
-$5
$375 - $385
-$5
$325 - $335
-$10
North Coast NSW
Price range
Change
$275 - $285
-$5
$235 - $245
-$5
$355 - $365
-$5
$300 - $310
$5
Central West NSW
Price range
Change
$245 - $255
$5
$210 - $220
Steady
$350 - $360
Steady
$275 - $285
$5

Wheat

Barley

Maize

Canola meal

Bega Valley
Price range
Change
$295 - $305
-$5
$245 - $255
-$5
$355 - $365
-$5
$465 - $475
Steady
Gippsland
Price range
Change
$305 - $315
-$5
$260 - $270
$5
$335 - $345
-$5
$455 - $465
-$5
Goulburn & Murray Valley
Price range
Change
$285 - $295
Steady
$240 - $250
Steady
$335 - $345
Steady
$440 - $450
-$5
South West Victoria
Price range
Change
$300 - $310
-$5
$240 - $250
$10
$335 - $345
Steady
$440 - $450
-$5
South East SA
Price range
Change
$295 - $305
Steady
$245 - $255
-$5
$395 - $405
-$5
$485 - $495
-$5
Central SA
Price range
Change
$305 - $315
$10
$225 - $235
Steady
$405 - $415
-$5
$255 - $265
Steady
North West Tasmania
Price range
Change
$395 - $405
-$5
$350 - $360
$5
$345 - $355
-$5
$545 - $555
-$5

Wheat

Barley

Triticale

Oats

South West WA
Price range
Change
$330 - $340
Steady
$285 - $295
Steady
$280 - $290
-$5
$260 - $270
Steady
Whilst all reasonable steps have been taken to ensure the accuracy of the information contained in this report, to the fullest extent permitted by Australian law Dairy Australia disclaims all liability for any inadvertent errors and for any losses or damages stemming from reliance upon its content. Dairy Australia recommends that all persons seek independent advice and, where appropriate, advice from a qualified adviser, before making any decisions about changes to business strategy.

About the Grain Report

Why the grain report is created

Farmers, government, industry advocacy and businesses across the supply chain require independently produced, unbiased data on the industry to inform strategic decisions and policy formation.

Grain reports provide an independent industry view, bringing together key data and insights across the supply chain and industry without any vested interest.

The grain report is created using data provided by Profarmer Consulting.


Interpreting the reports

Prices are estimates based on delivery to dairy farms with allowance for freight, storage, and marketing costs, but exclusive of GST. Wheat prices are for the relevant stockfeed quality wheat available in a region (ASW, AGP, SFW1 or FED1) and F1 for barley.

Watch this video of dairy farm manager Brian Corr explaining how the weekly hay and grain email updates help him make more informed decisions on-farm.


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