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Strong outlook for wheat
19 Mar 2008
An ABARE report predicts that global wheat production will jump by 19 million tonnes to 622 million tonnes this season, but global consumption will only increase 5 million tonnes to 616 million tonnes. Returns for Australian Premium White Wheat are expected to continue to climb from $359 per tonne this season to $396 per tonne by 2012-13. The March quarter Australian Commodities report also forecasts an increase in barley prices from $322 per tonne to $342 per tonne in four year's time. Canola will benefit from biodiesel demand in Europe and is expected to go from $568 to $591 per tonne over the same period.
The Weekly Times, 19/3/2008
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