Grain - Hay Report - 6 June 2013
International & National Summary - Grain:
The biggest grain news for the week has been the fantastic rains across South Eastern Australia last weekend which has ensured the establishment of the 2013 winter crops.
From Ceduna in South Australia, right across SA, Victoria, all of the Riverina, and up into central NSW as far north as Dubbo, there were falls of 25-40mm and higher. All planned crops will now be sown, with perhaps canola area scaling back a little because of the later break to the season.
Globally, markets were steady with concerns still around the delays in planting of the US crop. The focus is now on soybeans, whereas the corn and spring wheat areas have caught up to normal. If the soybean crop gets further delayed, there will be pressure on oilseed and protein meal supplies because the old crop balance sheet for oilseeds is very tight.
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