Grain Markets Remain Volatile Amid Rising Input Costs
Australian grain markets remain uncertain due to rising input costs and mixed signals from global wheat futures. Northern wheat and barley prices held firm, with Brisbane APW1 remaining near recent highs at $398/t, up $2/t for the week and 26pc above a year ago.
Canada's strong rebound in canola futures was not enough to support Australian bids, which fell 4-5% across most ports. Chinese buying and weaker US corn conditions provided some global market support, but did not spark a broad price rally.
Australian urea rose 6pc to $824/t, while diesel and petrol jumped 10-11%, tightening grower margins despite crude oil easing. The main concern for growers is the margin between crop revenue and input costs, which are becoming increasingly uncomfortable.