Posted 5/15/2019 17:20 (#7498839 - in reply to #7498238) Subject: RE: Australia importing wheat from Canada
This doesn't make sense . The East coast growers in Australia had a terrible 2018. However South Australian and Western Australian had very good production of grain. Grain prices in December 2018 and January 2019 were very high due to East coast traders buying grain to cover their requirements. Prices have since dropped more than $100 /tonne domestically in Western Australia. It is still cheaper to ship grain from WA to the East Coast than to ship grain from Canada. This is not passing the sniff test !! Something else at play here. I am a grain grower in WA and we are having a dry start to seeding, the whole wheatbelt is very dry, however most growers are dry seeding and probably close to half of the states crop is in the ground waiting for a germinating rain. Another two weeks of dry forecasts could see a domestic rally in prices.