Grain price: Australian wheat production takes massive jump

Image source: Shutterstock

News was churned this week. The boost in cost of US corn was acquire as low-priced corn has been shown to decimate prices here in Ireland in a past.

However, around a universe other countries showed increases in barley and wheat production. Canada has increasing a barley area. The nation is reported to have planted a top area of barley given 2009. An estimated 3.04 million hectares of barley have been planted.

Australia’s wheat prolongation for a 2020/2021 deteriorate is now estimated during 26.6 million tonnes. That’s an boost of 11.5 million tonnes from final season.

The boost comes from a liberation from a drought of a past few years and an boost in planted area. 65% of this wheat is approaching to be exported and a vast suit of barley will also be accessible to export.

Maize cost increase

The Chicago Board of Trade (CBOT) corn cost changed upwards in a past few days, as sum of acreages were published.

The arise in cost will many approaching see a remaining corn levy private from US product entering a EU.

On Apr 27, a levy of €5.27/t was placed on US corn and this was after increasing to €10.40/t. Once prices increasing a levy decreased to €4.65/t and a new cost travel is approaching to see it removed.