Australian Growers “Not Selling”. Growers are holding on to old & new crop in fear of massive shortages affecting up to 70% of Australian cropping areas.
With the Australian dollar still strong for the time being, freight differentials are now creating “Cost Parities” for feed imports. Additionally with the growing demand from drought stricken Northern regions, Southern grain is migrating North (as you would expect).
This should see a “Sharp” increase in delivered grain next week and moving toward harvest into Melbourne. We expect that delivered old crop Wheat (ASW) will be well above $300+ and Barley (FB1) around $285+ delivered Melbourne Range. Security of supply will be a major factor for Victorian feed manufacturers, mills and retailers and should see buyers looking for longer delivery periods through to December 17 and beyond.
Imports to the Rescue
Canola Meal & Soybean Meal are scheduled to land by EOY providing some welcomed relief and supply security for Australian animal feed ma...
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