Aussie FOB prices for wheat and barley have taken a tumble in the past week to reflect a surge in grower and trade selling and a downtrend in Northern Hemisphere cereal values.
Meantime, ABARES increased its estimates for Australia’s winter crops including wheat and barley in its Australian Crop Report September released on Tuesday and ABARES’ confirmation of a big crop getting bigger added to the bearish tone.
In the week, rainfall in the northern region was patchy, and included a much-needed 10-20 millimetres over parts of the north-west and central plains, and 20-30mm over the central to southern slopes in NSW.
That has prompted some trade and grower selling of new-crop, and pushed out some leftover grain in the current-crop window as the inverse collapses.
In this context, indicative delivered prices in Australian dollars per tonne were:
Barley Downs: (Nearby) $292 down $10 – (New crop) $297 down $3 Jan;
Wheat Downs: (Nearby) $345 down $20 – (New crop) $335 down $7 Jan ;
Sorghum Downs: (Nearby) $302 steady – (New crop) $285 down $5 Mar-Apr;
Barley Melbourne: (Nearby) $290 down $2 – (New crop) $295 down $5;
Wheat Melbourne: (Nearby) $360 down $12 – (New crop) $355 down $13.

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