Rain keeps hopes alive for average year
August 10, 2017
Solid rains were received over a lot of the country’s export growing regions of SA and WA last week. This should definitely arrest any slide in production for the next 3-4 weeks and goes a long way to further equip the crop for the forecasted Spring conditions. It will now come down to Sept rainfall and avoidance of hot weather as the crop is later than normal so a kind spring will be required. Consumptive wheat markets still remain on the quiet side both domestically and internationally however price checking has increased slightly from the International buyers in South East Asia. It appears the regular inelastic buyers need to cover requirements from October onward but for now are happy to watch markets slowly work lower.