Grain - Hay Report - 22 August 2013
International & National Summary - Grain:
- There is a big grain crop on the way in northern hemisphere for 2013/14. The risks to this crop are declining by the day and confirms the expectation, but not the guarantee, of lower grain prices over 2013/14.
- The background is:- US winter wheat harvest is almost complete; EU and Black Sea wheat harvests are 70+% complete; the Canadian wheat and canola crops are being revised upwards, to possibly a record; harvest of the US corn crop is about to start; AND, Australian crop prospects so far are average or better (exceptions are North-West NSW and North-Eastern fringes of WA grain belt where crops are very poor). … but we always should wait for our spring to pass before we can count on this crop being in the bin!