Record Wheat Yield In Australia Has No Considerable Effect On Prices

16 Feb, 2017
Record Wheat Yield In Australia Has No Considerable Effect On Prices
There has been no decline in the price of white Argentinian premium wheat APW despite the record wheat yield level in the country.

ABARE’s latest grain estimate for the country is at 35.1 mln tons. This estimate is 2 – 3 mln tons higher than the previous one and 45% over last year’s level.

Wheat price is steadily over 210 USD/ton FOB West Australia. The market has already registered the record yield and the new figures have been on traders’ minds for some time now.

Latest data states that, as of February 14, 2017, the price of APW to be delivered between April and June is 213 – 215 USD/ton FOB West Australia, which is 3 USD/ton over the price of February 10, 2017. The price was affected by the growing price in Chicago.