|
|
|
Wheat prices going down
17 Aug 2004
Good harvests in the northern hemisphere are driving down the price of wheat, says AWB. One of the key factors behind the weakness in grain markets is a massive US corn crop, with the US Department of Agriculture confirming record yields. The Spring wheat harvest in the US is also better than expected, while forecasts for the Canadian wheat crop have also been lifted. In Europe - particularly in France and Germany - the trend has been for high yield and quality.
AWB International's GM Sarah Scales said world grain prices have continued downwards in the past two weeks. Consequently, AWB has been forced to reduce its new-season estimated pool returns. Most 2004-2005 returns have been cut by $3 per tonne, taking the benchmark APW grade to $197 per tonne. The estimated pool return for the new season APH grade has been cut $7.50 to $218 per tonne. The 2003-2004 estimated pool returns are unchanged.
The Age, 16/8/04.
|
|
