Reserve Bank of Australia Governor Philip Lowe last week pointed out that the performance of the Australian agriculture sector throughout the COVID-19 pandemic has helped to underpin the nation's economic recovery.
That statement from the man in the top job holds particular weight as rain continues to fall across the nation's east coast after wet weather in recent weeks.
This rainfall, and the Bureau of Meteorology's recent suggestion of a negative Indian Ocean Dipole (IOD) developing in winter, signal the continuation of favourable conditions for Australian farmers - particularly those in the broadacre sector, where conditions have been ideal of late.
But one key consideration that must be made this year is where we are going to put all this grain.
If we cast our minds back to last year's tremendous start to the cropping season, storages across the country were all but empty after three long years of drought.
This year, we are off to a similarly great start. But there is a considerable volume of tonnes in the grain bulk handling system.
And some private estimates still have 25-30 per cent of the east coast crop pegged to be in on-farm storages - including in sheds, silos and grain bags.
Although the export pace has been frenetic this year, there will invariably be some carryover stocks in the bulk handling system after a bumper harvest.
So, with high stocks likely at the farm level, and further reserves stored in the bulk handling system, does this indicate we are heading towards a low-price environment at harvest time?
Recent marketing indications could suggest so.
Wheat and canola values have been trending lower during the past fortnight.
Canola has experienced some dramatic price falls on the back of improving weather across the US soybean and Canadian canola crops.
Add this to the recent suggestions that US president Joe Biden is considering easing biofuel blending mandates in the US, and this would dramatically affect demand for the whole canola complex.
All these factors must be viewed with a lens that the soybean/canola balance sheet will remain tight into the new season, which should continue to provide underlying support.
Wheat has taken its lead from corn in the past few weeks and prices have been continually trading under the US700 cents a bushel mark for almost the entire month of June.
For wheat to rally significantly in the lead into the Australian harvest, there needs to be a supply problem somewhere in the world - and currently the Russian and US crops are above average.
The demand for wheat continues to remain strong, as its feed substitute corn faces supply issues in the near-term months.
But as the corn harvest progresses in the US, the inverse will allow more corn to become available and free-up wheat that is currently replacing some of that feed demand.
Reiterating the previous point, unless there is a significant supply problem in corn or wheat prior to our new crop Australian harvest period, the world will remain awash with feed grains.
Those looking to make forward sales should choose their timing wisely this year, as the Australian crop looks in great condition.
