Aus exports still too expensive
September 8, 2017
Rainfall for the week was mainly coastal across Southern Australia. Temperatures remain very cool which is good for crop development especially as the days start to get longer. Temperatures remain cool for the balance of the week with continued showers however no real volume. Northern Australia remains dry and is searching for rain. Export markets still remain very quiet as South East Asian buyers don’t like our flat prices. Most of the inelastic buyers are happy to stretch their requirements for Aussie and purchase other origins (Black Sea, Hard Red Winter) until our values come into line. This may not occur until well into harvest. Black Sea 11.5% protein wheat is pricing into Indonesia around 200 cost and freight keeping pressure on Aussie values.