mag
20-6-2005, 08:48 pm
Its going to be one of those weeks,
MONDAY
ABARE – is currently forecasting a rise of the wheat price to $218.00 a ton for this season, their reasoning behind this is that they are forecasting a tightening supply situation in china, coupled with a 7% reduction in the EU and Russian wheat production. This I find hard to believe but nature can be a nasty bugger to rural producers, but our information is that the harvest in the EU and, Russia where production was reported up 2 million tons and the Ukraine exceeded previous forecasts, but what the hell do we know we only do this for a living perhaps they are looking at out of date data, who knows it not easy calling the market.
They are also forecasting Barley production to fall, so perhaps selling locally may be a option, but China is a very lucrative market for malting barley, and they are opening up some access for imports, so their may be a little bonus here for some growers who have taken the risk on growing a barley crop, early days on this so will keep you posted if interested.
TUESDAY:
AWB have announced a down grade to expected returns to growers of their wheat crop to $184/t (FOB, GST exclusive), because of the rising AUD, so here we have ABARE saying it will rise and the marketing body saying it has fallen because of a rise in the AUD, all in all a confusing situation.
For a full extract of this news from the AWB follow this link:
http://www.awb.com.au/AWBL/Launch/Site/AboutAWB/Content/Corporate/MediaReleases/200506PoolEstimatesDownDueToStrongerAuDollar.htm
Sales this so far this week:
Wheat:
The US Commodity Credit Corporation purchased 57,193 metric tons of Hard Red Winter Wheat for export distribution to Ethiopia. Shipment between Jul 11-Aug 10.
The US Commodity Credit Corporation purchased 7,990 metric tons of 12.0 pct protein Hard Red Winter Wheat for export distribution to Uganda. Shipment between Jul 1-10.
As usual I will update this page as the week progresses...
cheers. :thumb
MONDAY
ABARE – is currently forecasting a rise of the wheat price to $218.00 a ton for this season, their reasoning behind this is that they are forecasting a tightening supply situation in china, coupled with a 7% reduction in the EU and Russian wheat production. This I find hard to believe but nature can be a nasty bugger to rural producers, but our information is that the harvest in the EU and, Russia where production was reported up 2 million tons and the Ukraine exceeded previous forecasts, but what the hell do we know we only do this for a living perhaps they are looking at out of date data, who knows it not easy calling the market.
They are also forecasting Barley production to fall, so perhaps selling locally may be a option, but China is a very lucrative market for malting barley, and they are opening up some access for imports, so their may be a little bonus here for some growers who have taken the risk on growing a barley crop, early days on this so will keep you posted if interested.
TUESDAY:
AWB have announced a down grade to expected returns to growers of their wheat crop to $184/t (FOB, GST exclusive), because of the rising AUD, so here we have ABARE saying it will rise and the marketing body saying it has fallen because of a rise in the AUD, all in all a confusing situation.
For a full extract of this news from the AWB follow this link:
http://www.awb.com.au/AWBL/Launch/Site/AboutAWB/Content/Corporate/MediaReleases/200506PoolEstimatesDownDueToStrongerAuDollar.htm
Sales this so far this week:
Wheat:
The US Commodity Credit Corporation purchased 57,193 metric tons of Hard Red Winter Wheat for export distribution to Ethiopia. Shipment between Jul 11-Aug 10.
The US Commodity Credit Corporation purchased 7,990 metric tons of 12.0 pct protein Hard Red Winter Wheat for export distribution to Uganda. Shipment between Jul 1-10.
As usual I will update this page as the week progresses...
cheers. :thumb