Australian Wheat Prices Hit 13-Month High Amid Black Sea Disruptions

Australian wheat prices surged to a 13-month high in July amid disruptions to Black Sea supplies and concerns over further escalation in the region.

The Australian Premium White (APW) wheat reached $295/ton on July 23, while Australian Standard White (ASW) climbed to $287/ton, marking a significant increase from earlier this month.

Prices eased from their peaks toward the end of July but remained well above levels seen at the beginning of the month. On July 31, APW wheat was assessed at $289/ton, up $18/ton from July 1, while ASW increased by $16/ton to $282/ton.

The rapid rise in Australian prices limited buying interest from Southeast Asian importers, who instead turned to Argentine wheat as an alternative. Argentine 11.5% protein wheat was offered at around $290/ton CFR, compared with nearly $310/ton for Australian ASW with 9% protein in mid-July.