If you have been watching the futures market during the past four weeks, you would be forgiven for feeling a bit like a nervous wreck.
The FAO has released its first forecast for 2019/20, and have pegged the global crop at 757.4 million tonnes. That would represent a 3.4 per cent lift on last year and propel production back towards the record set in 2017/18.
The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) in Jakarta last week is great news for Australian grains.
GRAIN markets continue to seek guidance from our global counterparts while local markets remain subdued with lack of interest on both the buyer and grower selling sides.
Northern grain markets remained soft in the early stages of last week but firmed towards the end of the week.
US Department of Agriculture reports that the current wheat crop sown by the American farmer is the smallest since 1909 at 31.24 million acres and the Argentinean crop is becoming water logged.
It may just be that alcohol is the thing to “soften the blow” on the Australian grains industry from the increasingly likely trade war fallout.